Renters Insurance Premium Estimator
Estimate renters insurance cost from your contents value, deductible, and liability coverage. Runs in your browser.
Premium estimate
- Estimated annual premium
- $165.00
- Estimated monthly
- $13.75
Rough estimate. Renters insurance is inexpensive — national average roughly $150–$200/year — and covers your belongings (contents), liability, and often temporary living costs. This uses a ~$5.50 per $1,000 of contents base rate adjusted for deductible and liability. Actual price varies by ZIP, claims history, and carrier; flood requires separate coverage. To value contents, do a quick home inventory. Not a quote.
About this tool
Renters insurance is one of the best values in personal finance — typically only $150–$200 a year — yet many renters skip it, not realizing their landlord's policy covers the building, not their belongings. This tool estimates the premium from the value of your contents (personal property), your deductible, and your liability coverage limit. It uses a national-average base rate of about $5.50 per $1,000 of contents coverage and adjusts for deductible (higher deductible, lower premium) and liability limit. A renters policy generally covers three things: your belongings against theft and many perils, personal liability if someone is injured or you damage others' property, and additional living expenses if your unit becomes uninhabitable. The estimate is rough — actual prices vary by ZIP code, claims history, and carrier — and note that floods and earthquakes need separate coverage. To set the contents amount, do a quick home inventory of furniture, electronics, and valuables; people routinely underestimate what they own. It is informational, not a quote. Everything runs in your browser.
How to use it
- Estimate your contents (personal property) value with a quick inventory.
- Choose your deductible and liability coverage limit.
- Read the estimated annual and monthly premium.
- Get real quotes — renters insurance is cheap and worth having.
Frequently asked questions
- What does renters insurance cover?
- Three main things: your personal belongings (contents) against theft and covered perils, personal liability (if someone is hurt in your unit or you damage others' property), and additional living expenses if a covered event makes your home temporarily uninhabitable. It does not cover the building — that is the landlord's policy.
- How much does renters insurance cost?
- Usually about $150–$200 a year ($12–$20/month) for typical coverage — one of the cheapest forms of insurance. The price scales mainly with how much contents coverage you choose, plus deductible, liability limit, location, and carrier.
- How do I value my contents?
- Do a quick home inventory — add up furniture, electronics, clothing, kitchenware, and valuables (photos or a video help). Most people underestimate; $30,000–$50,000 is common for a furnished apartment. Choose replacement-cost coverage if available, so you are paid to rebuy at today's prices.
- Does it cover floods or earthquakes?
- No. Standard renters policies exclude flood and earthquake; those require separate policies or endorsements. If you are in a flood- or quake-prone area, look into add-on coverage.
- Should I get a higher deductible?
- A higher deductible lowers your premium, but renters premiums are already low, so the savings are modest. Pick a deductible you could comfortably pay out of pocket for a claim — often $500 is a reasonable middle ground.
- Is this a quote?
- No. It is an informational estimate using average rates. Get quotes from insurers for an actual price — it is quick and inexpensive.