Renters insurance
How much coverage do you need?
Skip the start-from-zero spreadsheet. Answer a few quick questions and get a coverage estimate - plus a heads-up on the valuables that standard policies quietly cap.
A typical mix of furniture & gear
Calculated on your device. Nothing is uploaded.
Recommended contents coverage
$20,000
Based on an estimated $18,000 to replace everything at today's prices.
If paid replacement cost (RCV)
$18,000
If paid depreciated (ACV)
$9,900
Choose a replacement cost policy. With actual cash value, an old laptop or couch pays out far less - the gap above is what depreciation costs you.
Your suggested policy
Premium is a ballpark - your actual quote depends on state, deductible, claims history and more.
Educational estimate, not an insurance quote or legal advice. Sub-limits, valuation rules and rates vary by insurer, policy and state - confirm specifics with your provider.
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What most calculators miss
The sub-limit trap
Standard policies cap jewelry, bikes, electronics and more. We flag what you own that exceeds those caps - so you can schedule it before a claim, not after.
Replacement vs depreciated
We show both. An actual-cash-value policy pays out far less for older items - pick replacement cost and know the difference.
A whole policy, not a number
Contents, liability, loss-of-use and a rough premium - the full picture an insurer will actually ask you about.
How much renters insurance do I need?
Enough personal property (contents) coverage to replace everything you own at today's prices. The honest way to size it is to picture a total loss - a fire or theft that wipes out the apartment - and ask what it would cost to rebuy it all new. For most renters that lands between $20,000 and $35,000, but it scales with how much space you fill and how nice your things are. Rough starting points by home size:
| Home size | Typical contents value | Coverage to pick |
|---|---|---|
| Studio | ~$12,000 | $15,000 |
| 1 bedroom | ~$18,000 | $20,000 |
| 2 bedrooms | ~$28,000 | $30,000 |
| 3+ bedrooms | ~$40,000 | $40,000 |
These assume a moderately furnished place - trim them if you travel light, raise them if your rooms are fully kitted out. The calculator above adjusts for your furnishing level and household size and rounds to the coverage band an insurer will actually offer.
How much does renters insurance cost?
It's one of the cheapest policies you can buy: roughly $10–$25 a monthfor most renters. Cost rises with the amount of contents coverage, your deductible, and your state - but even a $20,000 policy usually runs around $15–$20/month. For the price of a couple of coffees it also carries liability (if someone's hurt in your unit or you cause damage) and loss-of-use (a hotel and meals if the place becomes unlivable) - two things people forget renters insurance even includes.
Replacement cost vs. actual cash value - pick replacement
This one choice changes your payout more than the coverage number does:
- Replacement cost (RCV) pays what a new equivalent costs today. Your three-year-old $1,200 laptop pays out at what a comparable new one costs.
- Actual cash value (ACV) pays the depreciated value - often little more than half of replacement cost for older belongings.
The gap is large and the premium difference is small, so replacement cost is almost always worth it. The calculator shows both numbers side by side so you can see exactly what you'd leave on the table with an ACV policy.
The valuables standard policies quietly cap
A standard policy doesn't cover every category in full. Certain high-value items carry sub-limits - and for theft especially, they're lower than people expect. A single ring or e-bike can blow past the whole category's limit:
| Category | Typical sub-limit (theft) |
|---|---|
| Jewelry, watches & rings | ~$1,000–$1,500 |
| Bicycles & e-bikes | ~$1,500 |
| Firearms | ~$2,500 |
| Art & collectibles | ~$2,500 |
| Electronics (theft, some policies) | ~$1,500 |
If you own something worth more than its cap, ask your insurer to scheduleit - a small add-on (a “rider” or “floater”) that covers the full value. The calculator flags which of your items likely exceed these limits so you fix it before a claim, not after. If your lease is what's requiring the policy, it's worth a quick read of the rest of the lease for red flags too.
Frequently asked questions
How much renters insurance do I need?
Enough to replace everything you own at today's prices. Picture a total loss and what it would cost to rebuy it all. Most renters land between $20,000 and $35,000 in personal property coverage - our calculator estimates your number in under a minute.
What does personal property (contents) coverage include?
Your belongings - furniture, clothes, electronics, kitchenware, and more - if they're stolen or destroyed by a covered event like fire or theft. It's separate from liability and loss-of-use coverage.
What's the difference between replacement cost and actual cash value?
Replacement cost (RCV) pays what a new equivalent costs today. Actual cash value (ACV) pays the depreciated value, so older items pay out far less. Choose replacement cost - it's usually worth the small extra premium.
Are expensive items like jewelry fully covered?
Often not. Standard policies cap categories like jewelry, bikes, firearms and collectibles - sometimes around $1,000–$2,500. For valuable items, ask your insurer about a scheduled personal property endorsement (a 'rider' or 'floater'). Our calculator flags which of your items likely exceed these caps.
How much does renters insurance cost?
It's one of the cheapest policies you can buy - most renters pay roughly $10–$25 a month, depending on your state, coverage amount, and deductible.
Lease requires renters insurance? Check the rest of your lease for red flags →