GITNUX MARKETDATA REPORT 2024

Statistics About The Average Landlord Insurance Cost

The average landlord insurance cost in the United States is around $1,200 per year.

With sources from: investopedia.com, trustedchoice.com, latimes.com, moneygeek.com and many more

Statistic 1

On average, landlord insurance costs $1,200 a year, according to the National Association of Insurance Commissioners.

Statistic 2

Premiums for renters insurance, which is optional for landlords, averages around $326 annually, according to Trusted Choice.

Statistic 3

The average cost of liability insurance, often carried by landlords, is around $500 per year.

Statistic 4

In California, the average landlord policy insurance per year is $1,678.

Statistic 5

In Texas, landlords pay an average of $186 per month for insurance.

Statistic 6

On average, landlord insurance can be as cheap as $300 a year and as much as $3,500 a year.

Statistic 7

According to HomeInsurance.com, a typical landlord insurance policy in Virginia costs about $1,468 per year.

Statistic 8

In Toronto, Canada, the annual average cost for landlord insurance is CAD $2,000.

Statistic 9

In Australia, landlords pay an average of $208 per month for landlord insurance.

Statistic 10

In the UK, the average cost of landlord insurance is between £120 and £220 annually.

Statistic 11

Landlord insurance for condo owners typically costs around $474 annually.

Statistic 12

In Michigan, the average annual cost for landlord insurance is $1292.

Statistic 13

For a basic policy, landlords in Seattle, Washington, pay an average of $900 annually.

Statistic 14

The average landlord insurance claim for water damage is around $5,000.

Statistic 15

According to NerdWallet, landlords in Oregon pay an average of $1,252 annually for their insurance.

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In this post, we explore the diverse landscape of landlord insurance costs across different regions. From the average annual premiums in California and Texas to the variations in costs in international markets like Canada, Australia, and the UK, we provide a comprehensive look at the expenses landlords can expect to incur for insurance coverage.

Statistic 1

"On average, landlord insurance costs $1,200 a year, according to the National Association of Insurance Commissioners."

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Statistic 2

"Premiums for renters insurance, which is optional for landlords, averages around $326 annually, according to Trusted Choice."

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Statistic 3

"The average cost of liability insurance, often carried by landlords, is around $500 per year."

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Statistic 4

"In California, the average landlord policy insurance per year is $1,678."

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Statistic 5

"In Texas, landlords pay an average of $186 per month for insurance."

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Statistic 6

"On average, landlord insurance can be as cheap as $300 a year and as much as $3,500 a year."

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Statistic 7

"According to HomeInsurance.com, a typical landlord insurance policy in Virginia costs about $1,468 per year."

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Statistic 8

"In Toronto, Canada, the annual average cost for landlord insurance is CAD $2,000."

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Statistic 9

"In Australia, landlords pay an average of $208 per month for landlord insurance."

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Statistic 10

"In the UK, the average cost of landlord insurance is between £120 and £220 annually."

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Statistic 11

"Landlord insurance for condo owners typically costs around $474 annually."

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Statistic 12

"In Michigan, the average annual cost for landlord insurance is $1292."

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Statistic 13

"For a basic policy, landlords in Seattle, Washington, pay an average of $900 annually."

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Statistic 14

"The average landlord insurance claim for water damage is around $5,000."

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Statistic 15

"According to NerdWallet, landlords in Oregon pay an average of $1,252 annually for their insurance."

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Interpretation

In conclusion, landlord insurance costs vary significantly based on location and coverage options. The average cost across the United States is $1,200 annually, with premiums ranging from $300 to $3,500 per year. Different regions have different averages, such as $1,678 in California, $186 per month in Texas, $1,468 in Virginia, $474 for condo owners, and $900 in Seattle, Washington. International averages include CAD $2,000 in Toronto, Australia's $208 monthly, and the UK's £120-£220 yearly. Landlord insurance claims, such as those for water damage, average around $5,000. It is important for landlords to carefully consider their insurance needs and options to ensure adequate protection for their rental properties.

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