Renters Insurance Calculator

Renters insurance is the cheapest insurance product in America — typical policy is $15–$22/month for $25,000 of contents coverage and $100,000 of liability. And yet roughly 59% of renters skip it, usually because they underestimate what their stuff is worth and overestimate what the landlord's policy covers (which is: nothing — the landlord's policy only covers the building).

Real example. Tenant in a 2-bedroom apartment. Takes 15 minutes to list contents: laptop $2,200, TV $700, couch $1,100, mattress $900, clothing $3,500, kitchen $1,200, books/decor $800, bike $600. Total: ~$11,000 — and that's a low estimate. Policy: $25,000 contents + $100,000 liability + $5,000 loss of use. Cost in most states: $18/month. In Texas with higher catastrophe loading: $24/month.

Inventory items room by room using the free NAIC "Home Inventory" method — photograph every drawer. Add up replacement cost, not depreciated value — a 5-year-old laptop cost $1,800 new and is worth $200 used, but you'll buy a new one for $1,800 after a fire. Pick liability at $100k minimum, $300k if you own a dog or have regular houseguests.

If you want to stress-test the answer, pair with homeowners insurance calculator and condo HO-6 calculator — the two numbers should corroborate each other within ~15%. If they don't, one of your inputs is off.

Mistakes: picking ACV (actual cash value) instead of RCV (replacement cost) to save $3/month — ACV pays the depreciated value and leaves you short; skipping scheduled personal property rider for jewelry or electronics over $2,500 (base policy caps jewelry at $1,500 typically); assuming flood is covered (it's not — run the flood insurance calculator if you're in a flood zone).

The main drivers are: ZIP code (urban high-theft areas cost 2× suburban), deductible ($500 is standard; raising to $1,000 saves 8–12%), bundled auto discount (10–15% off when you bundle), and claims history (one water damage claim stays on your CLUE report for 7 years).

Louisiana, Florida, and Texas are most expensive due to hurricane and tornado exposure. Pacific Northwest and Midwest are cheapest. California has add-on earthquake options (and a separate CEA policy for actual quake coverage).

Before you pull quotes, write a one-page spec: exact limits, exact deductible, exact riders, exact coverage period. Give all carriers the same spec. When quotes come back, ignore the headline premium and normalize — is the deductible identical, are the riders identical, is the liability limit identical? Only then compare.

Drop each carrier's real number back into this calculator to see the expected annual cost (premium + deductible × claim probability), not just the sticker. A $150 cheaper premium with a $750 higher deductible is usually worse once you account for probability. Pair with landlord insurance calculator and jewelry insurance calculator to confirm you're sizing limits correctly.

Rerun after any major purchase (TV, jewelry, laptop) and every 2 years to inflation-adjust contents coverage. Every major apartment move triggers a policy transfer — confirm the new address is at least equal risk so rate doesn't jump.

Calendar a reminder for 45 days before the renewal. Pull three fresh quotes — one from a direct writer (GEICO, Progressive), one from a captive agent (State Farm, Allstate, Farmers), and one from an independent agent who represents 8–12 carriers. Combine with flood insurance calculator for your full portfolio view.

This tool is educational, not financial or insurance advice. Actual premiums depend on factors no web tool can perfectly model, including carrier-specific underwriting, state regulations, your individual history, and policy-form details. Formulas here use simplified national averages to get you within a reasonable planning range — not to produce a bindable quote. Before purchasing any renters insurance policy, consult a licensed insurance agent in your state. Carrier links on this page are sponsored affiliate placements; we may earn a commission if you click and purchase, at no additional cost to you. This does not influence the calculator math or our editorial picks.

This calculator runs entirely in your browser using JavaScript. Nothing you type is transmitted to our servers. Nothing is stored after you close the tab. Use the Export PDF button to take the inputs and results with you. If you want a renters insurance feature that doesn't exist yet, send a note via the contact page — we prioritize tool-building based on real user requests.