How renters insurance costs change after your big city move


Save Money by Comparing Insurance Quotes
Compare Free Insurance Quotes Instantly
ZIP Code must be filled out!
 Secured with SHA-256 Encryption
writter logo
Written by
Managing Editor of Features and News
reviewer logo
Reviewed by
Licensed Auto Insurance Agent
UPDATED: 2021-02-11T21:39:42.578Z
Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
New York city apartments in the skyline

If you live in a small town — for example, an apartment in Eugene, Oregon — you may be concerned about the costs of moving to a big metropolitan area. Will your apartment rent be higher? Will food cost more?

You’re probably already anticipating that your car insurance may go up because insurance underwriters perceive that in a big city your car may be more at risk for theft and damage, but does the same thing apply to your renters insurance cost? If you move to New York City, will your rates double or triple from what they are now? While renters insurance is typically slightly more expensive in cities, the increase may not be as signficant as you’d think.

Renters insurance cost

While you might have expected that New York City renters insurance rates would naturally be much higher than in Portage, Wisconsin, the truth is that the highest U.S. renters insurance rates are in Mississippi and Louisiana, while the least expensive premiums are in North and South Dakota.

Renters insurance rates are based on a number of factors, including the type of coverage you have. The amount of belongings you have and the cost to replace those belongings will play a large role in determining your annual renters insurance rates. While where you’re living is a factor as well, it’s certainly not the only one.

It’s important to research the top renters insurance companies and to check rates with multiple insurers before buying coverage in your new city. In addition to renters insurance cost, however, there are some things to consider before you move.

Inform your current renters insurance company

After moving, you’ll either use a new insurance company, or if you like your current company, you may choose to stay with them. Either way, you need to inform the company before you move. If you’ll be using a new company, you need to tell your present insurer the date you’re leaving so you’re not charged for coverage you no longer need. If you’re going to stick with your current company, you may need a new policy anyway, so be sure to communicate your plans to your company or agent.

Pet damage

Don’t automatically assume you’re covered for pet damage. In fact, if you don’t have a pet now, your policy may specifically state that animal damage is not covered. If you plan to get a pet, though, remember to contact your insurer and buy whatever coverage is necessary, because it’s sometimes not included unless you request it.

Flood damage

If you live in a landlocked and flood-proof area now, you may not have considered flood insurance before. However, if you’re now moving to an area prone to flooding, make sure you purchase the correct coverage from the proper source. While renters insurance typically covers water damage, this coverage isn’t for water damage caused by weather-related issues. You’ll need a flood insurance policy to protect your belongings in the event they’re damaged in a flood.

Sure, renters insurance cost typically differs by city, but it’s probably not enough to take a huge chunk out of your budget. So, if you’re saving for a contract for deed home purchase in a smaller town in Minnesota, you should be just fine.

But you don’t want to find yourself in a situation where you’re under or uninsured in the event of a claim. So as you’re planning your move, make sure to research the best renters insurance companies according to consumers.


The content on this site is offered only as a public service to the web community and does not constitute solicitation or provision of legal advice. This site should not be used as a substitute for obtaining legal advice from an insurance company or an attorney licensed or authorized to practice in your jurisdiction. You should always consult a suitably qualified attorney regarding any specific legal problem or matter. The comments and opinions expressed on this site are of the individual author and may not reflect the opinions of the insurance company or any individual attorney.

Save Money by Comparing Insurance Quotes
Compare Free Insurance Quotes Instantly
ZIP Code must be filled out!
 Secured with SHA-256 Encryption