Renters Insurance Calculator

Estimate renters insurance premium based on personal property value, coverage type, and deductible.

By Konstantin Iakovlev · Updated September 2026 · Source: NAIC — Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023

$
Coverage Type
Liability Coverage
Deductible

Estimated Monthly

$22.00

Estimated Annual

$264.00

Coverage Type

Replacement Cost

Coverage Breakdown

Personal Property$25,000.00
Liability Protection$100,000.00
Deductible$500.00
Coverage TypeReplacement Cost

Deductible Comparison

$500 deductible$22.00/mo ($264.00/yr)
$1,000 deductible$19.80/mo ($237.60/yr)
$2,500 deductible$17.60/mo ($211.20/yr)

What Renters Insurance Covers

  • Covered: theft, fire, vandalism, water damage (non-flood), personal liability
  • Not covered: floods, earthquakes, roommate belongings, car contents
  • Replacement cost pays to replace items at current prices; ACV deducts depreciation

Use the Renters Insurance Calculator above to calculate your results. Enter your values and see instant results — all calculations run in your browser.

Disclaimer: This calculator is for informational purposes only and does not constitute tax, financial, or legal advice. Results are estimates based on the information you provide and current rates. Always consult a qualified tax professional or financial advisor for advice specific to your situation.

How It Works

Renters insurance is one of the cheapest forms of financial protection a tenant can buy, and knowing the likely price tag makes it easier to fit into a budget. The NAIC's latest homeowners report put the 2023 countrywide average renters (HO-4) premium at $173 a year, and this estimator gives you a quick read on what protecting your belongings might cost before you start shopping policies.

Behind the scenes, a simple estimate combines four inputs: the value of your personal property, whether you pick Actual Cash Value or Replacement Cost coverage, your liability limit and the deductible you select. It starts at $22 a month for $25,000 of Replacement Cost coverage ($15 for Actual Cash Value) and scales with the square root of your property value, so doubling the coverage raises the premium by about 41%, not 100%. A $300,000 liability limit adds $2 a month and $500,000 adds $5, and the deductible then trims the result by 10% at $1,000 or 20% at $2,500.

Treat the result as a starting point rather than a quote, since your real premium shifts with location, credit history, and the specific insurer. Two habits pay off here: inventory your belongings carefully so you don't lowball the value of your property, and learn the gap between Actual Cash Value, which pays the depreciated worth, and Replacement Cost, which pays for a brand-new item. That distinction is where renters most often get caught off guard at claim time.

Example: Protecting Your New Apartment

  1. 1 Input: Personal Property Value $25,000 (furniture, electronics, clothing), Replacement Cost coverage, $100,000 liability and a $500 deductible.
  2. 2 Replacement Cost starts at $22 a month for $25,000 of property, and $25,000 is the base amount, so the property factor is √(25,000 ÷ 25,000) = 1. The $100,000 liability limit and the $500 deductible add or remove nothing.
  3. 3 Estimated premium: $22.00 a month, or $264 a year. The deductible comparison shows $19.80 a month ($237.60 a year) at $1,000 and $17.60 ($211.20) at $2,500, and Actual Cash Value coverage with the same inputs would be $15 a month ($180 a year).
  4. 4 This is a starting point, not a quote, and it runs above the NAIC's 2023 national average of $173 a year for renters policies, so get quotes from several insurers before you buy.

Source: NAIC — Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 · Last updated: September 2026

Frequently Asked Questions

How much does renters insurance cost in 2026?
The NAIC's latest homeowners report put the 2023 countrywide average renters (HO-4) premium at $173 a year, about $14 a month. Rates vary by location, coverage amount, and deductible.
What does renters insurance cover?
Renters insurance covers personal property (theft, fire, water damage), liability (someone injured in your apartment), and additional living expenses if your rental becomes uninhabitable. It does not cover floods or earthquakes.
How much personal property coverage do I need?
Make a quick inventory of your belongings. Most renters have $20,000-$50,000 in personal property. Consider electronics, furniture, clothing, and jewelry. Choose replacement cost coverage rather than actual cash value for better protection.

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