How much renters insurance do I need?

Set your personal property (Coverage C) to what it would cost to re-buy everything you own new — walk room by room and total it; most renters land between $20,000 and $50,000. Carry personal liability (Coverage E) of at least as much as your net worth, with $100,000 the practical minimum and $300,000 only a few dollars more. Add replacement-cost coverage so you're paid for new items rather than depreciated value. The national average renters policy is about $168 per year.

What is replacement cost vs. actual cash value on renters insurance?

Actual cash value (ACV) pays what your belongings are worth used after depreciation — a five-year-old TV might be valued at $80. Replacement cost value (RCV) pays what it costs to buy the item new. RCV typically adds only about 10–15% to the premium and is almost always worth it; do not choose ACV to save $20 a year.

Does renters insurance cover jewelry and other valuables?

Standard renters policies cap categories like jewelry, watches, cameras, bicycles, firearms, and fine art — often at $1,000 to $2,500 total, and theft of jewelry may be capped lower. To fully cover a valuable item, add a scheduled personal property endorsement (a rider) that insures it for its appraised value, usually with no deductible. If you don't own high-value items, you can skip this.

How much does renters insurance cost?

The national average is roughly $168 per year, or about $14 a month, but it ranges from around $127 in low-cost states to over $250 in Florida and Louisiana. Premiums are driven mainly by how much personal property you insure, your deductible, whether you carry replacement-cost coverage, and your state. Bundling renters with an auto policy typically cuts the renters premium by 10–15%.

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How much renters insurance do you actually need?

Renters insurance is cheap — the national average is about $168/yr. The real question is how much personal property and liability coverage to carry, and what to skip. Tell us a few things and we'll show you what to buy and roughly what it should cost.

Value of your stuffi

$30,000

$10k$30k$75k$150k$300k+

Assets to protect (net worth)i

$100,000

< $50k$100k$300k$500k$1M+

Your ZIP codei

rates adjust by state

Deductiblei

Bundle with auto?i

High-value items?i

Est. annual premium: —

Directional estimates only — not a quote. Actual premiums vary by carrier, building, and claims history. How we estimate →

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