Renters insurance can be expensive depending on several different factors. If you are paying too much for renters insurance, consider the aspects affecting your premiums and speak with an insurance agent.
Sometimes aspects can be out of your control, such as changes in your neighborhood. If there is more development in your area, such as if the value of the neighborhood goes up, you may see a rise in your renters insurance rate. 
Other factors affecting your renters insurance rates may include:
Credit Score
Just as your credit score affects your ability to get an apartment, it can also affect the cost of your renters insurance. Credit scores are viewed by insurers as examples of how reliable you will be when paying your renters insurance premiums. A low credit score can raise your renters insurance rates while a high credit score can save you money on renters insurance.
Change in Location
If you move, you may see changes in your renters insurance premiums. Even if you move from one city to another in the same state, your rates could go up or down. This is in part due to the aspects of your location itself and if you need to change your coverage limits.
Coverage Limits
Not all renters insurance policies are the same. If you have a lifestyle change, such as moving or purchasing an expensive item, it is important to review your renters insurance policy. While adding more coverage to your policy may raise your premiums, not having enough renters insurance can leave you open to further loss in case of an accident.
Previous Claims
The more claims you file, the higher your rates may be. This is because the insurance provider pays compensation for a claim and try to balance out the risk with premiums. Filing a claim also makes you, in the eyes of an insurer, more susceptible to filing a claim again in the future.
Lifestyle Changes
Lifestyle changes can also influence your renters insurance premiums. Did you recently have a baby? Did you move out on your own as opposed to with a roommate? These changes can actually raise or lower your renters insurance rates. Having a baby will typically raise your rates, since having a child presents higher liability risk.
If you are in doubt or believe you are paying too much for insurance, speak with an insurance agent and get a new quote.