1+ week, 2+ day ago (1717+ words) The average U.S. tenant pays $264 annually for renters insurance, according to Insurify data. But costs climb much higher in certain areas, especially the South. Five cities along the Gulf Coast rank among the 10 most expensive cities for renters insurance: New Orleans, Baton Rouge, and Lafayette in Louisiana, and Biloxi and Gulfport in Mississippi. Cities in Kentucky, Georgia, and Arkansas also make the list. In fact, Detroit, the most expensive city for renters insurance, is the only one among the top 10 that isn't in the South. Several factors influence renters insurance costs, and they vary significantly between states and cities. Building and security features, neighborhood property crime rates, area fire incident rates and response times, and individual policy details can all affect renters insurance rates. Climate risks have made it unprofitable for companies to insure certain regions, according to J.P. Morgan.1 Severe weather,…...