Renters Insurance Calculator
Estimate your monthly renters insurance premium based on your belongings and location.
Your Rental Situation
Estimated Premium
$26/month
$310/year · State average: $310/yr
Coverage Summary
Ways to Save
- Raising your deductible to $1,000 can lower your premium by 10-15%.
- A better credit score can reduce your premium by up to 20%.
- Bundle renters + auto insurance to save 5-15%.
- Pay annually instead of monthly to avoid installment fees.
Estimates based on state averages. Get quotes from multiple insurers for accurate pricing.
Why Renters Insurance Matters
Your landlord's insurance covers the building — not your stuff. If there's a fire, theft, or water damage, you'd have to replace everything out of pocket without renters insurance. The average renter owns $20,000–$50,000 worth of belongings. A policy that protects all of it costs roughly the same as a streaming subscription.
Average Renters Insurance Cost (2026)
| Coverage Level | Monthly | Annual | What It Covers |
|---|---|---|---|
| $20,000 property / $100K liability | $13–$18 | $156–$216 | Basic belongings + liability |
| $30,000 property / $100K liability | $17–$24 | $204–$288 | Average renter |
| $50,000 property / $300K liability | $25–$35 | $300–$420 | Higher-value belongings |
What Renters Insurance Covers
A standard HO-4 policy includes four coverages: personal property (your stuff), liability (if someone is injured in your apartment), loss of use (hotel costs if displaced), and medical payments (minor injury claims). It does NOT cover floods, earthquakes, or your roommate's belongings unless they're on your policy.
Frequently Asked Questions
Is renters insurance worth it?
At $15-25/month, it's one of the cheapest insurance products available. It takes just one theft or kitchen fire to cost far more than years of premiums. Many landlords now require it, and it also protects you from liability lawsuits — which can exceed $100,000.
What's the difference between ACV and replacement cost?
Actual Cash Value (ACV) pays what your item is worth today (minus depreciation). Replacement Cost pays what it costs to buy the same item new. Replacement cost policies cost 10-15% more but pay out significantly more on claims. Always choose replacement cost if available.
See also: Budget Planner and Emergency Fund Calculator.