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Renters Insurance Calculator

Estimate your monthly and annual renters insurance cost from your personal property value, liability limit, deductible, and state. Estimate only, not a quote.

Renters Insurance Details

Add up electronics, furniture, clothing, and other belongings

Renters Insurance Results

Estimated monthly premium--
Estimated annual premium--
Personal property portion--
Liability portion--

Estimate only, actual quotes vary. Real rates depend on your carrier, building type, claims history, and underwriting. National average is roughly $15 to $30 per month per III.org.

Jessica Martinez
Jessica Martinez
Contributing Writer, Business & Finance, updated June 16, 2026

How This Price Is Built

Renters insurance is inexpensive because your landlord's policy covers the building structure. What you are buying is protection for your own belongings and liability coverage if someone is injured in your unit or you accidentally damage someone else's property. This tool prices a typical policy from those two components: personal property and liability.

Most renters underestimate what they own. Walk through your place mentally: laptops, phones, a television, a bicycle, kitchen equipment, a bed, a couch, clothing. It adds up. The Insurance Information Institute recommends creating a home inventory and totaling it before you pick a coverage limit.

What Moves Your Renters Insurance Rate

Renters insurance is one of the most affordable personal insurance products you can buy. The national average runs roughly $15 to $30 per month, according to III.org, though state and coverage level push that number in both directions. The main inputs insurers use are personal property coverage amount, liability limit, deductible, location, and building type. Apartments in dense urban zip codes in California or New York tend to run higher. Midwest states with lower claim rates run below average.

The deductible is a meaningful lever at this price point. Dropping from a $250 deductible to a $1,000 deductible can save $5 to $10 a month, which is significant when the base premium is $20. Many renters find that a $500 deductible hits the right balance between out-of-pocket exposure and premium savings.

Bundling with your auto policy is one of the most reliable discounts in personal insurance. Most major carriers offer 5% to 15% off both policies when you buy them together. If you already use a carrier for car insurance, get a renters quote from the same company first.

Actual Cash Value vs Replacement Cost

Cheaper renters policies pay actual cash value for lost or damaged belongings, meaning they deduct for depreciation. A five-year-old laptop might have a replacement cost of $1,200 but an actual cash value of $400. Replacement cost coverage pays what it actually costs to buy a comparable item new, which matters a great deal when you file a claim. The premium difference is usually $2 to $6 per month and is almost always worth it.

Calculator methodology

Renters Insurance Reference Data

The property and liability constants below are the same ones this calculator runs, documented in full on the 2026 Insurance Needs Formulas Reference.

ComponentHow it prices
Personal propertyProperty value × 0.4% × deductible factor × state factor
Liability(Limit ÷ $100k) × $60 × state factor
Default profile result$180/yr ($15.00/mo)

Default profile: $30,000 personal property, $100,000 liability limit, standard deductible and state. Every constant and the downloadable CSV are on the reference page above.

Own a home or thinking about buying?

Homeowners insurance prices differently once you own the structure itself.

See what owning would cost instead  Check umbrella liability pricing
Renters insurance, plainly

FAQs

How much is $100,000 renters insurance a month?

A renters policy with $100,000 in personal property coverage typically costs $25 to $45 per month at the national average. California and New York tend to run at the high end of that range. Bundling with auto insurance usually cuts 5% to 15% off that figure. Most renters, however, do not own $100,000 in personal property, so verify your actual inventory total before setting that coverage limit.

How much is a $500,000 renters insurance policy?

Very few renters carry $500,000 in personal property coverage because most renters own far less than that in belongings. If you need $500,000 in coverage, you likely want a condo or homeowners policy instead. The $500,000 figure more commonly comes up as a liability limit, which costs very little to add. Use the calculator above to see how the liability limit changes your monthly cost.

How much is $300,000 worth of renters insurance?

$300,000 in renters insurance typically refers to a liability limit, not a personal property amount. A policy with $300,000 in liability coverage and $30,000 in personal property typically costs $18 to $35 per month nationwide. Adjusting the inputs in the calculator above gives you a state-specific estimate.

How much is renters insurance for $25,000?

A policy with $25,000 in personal property coverage and $100,000 in liability typically runs $12 to $20 per month at the national average, or roughly $144 to $240 per year. That makes it one of the least expensive insurance products available. Many landlords now require proof of renters coverage before or at lease signing.

Does renters insurance cover theft outside the home?

Most standard renters policies do cover theft of personal property away from home, including items stolen from your car or a hotel room. Coverage is typically capped at a percentage of your personal property limit. Check the off-premises coverage language in any policy before you buy, since the limit varies by carrier.

What does renters insurance not cover?

Standard renters policies do not cover flooding, earthquakes, your roommate's belongings, or damage from pests. High-value items like jewelry, art, and cameras are often covered only up to a sublimit. Riders or scheduled endorsements can extend coverage for those items. Flood insurance is a separate policy and can be purchased through the National Flood Insurance Program.

Related Reading

Jessica Martinez
About the author
Jessica Martinez
Contributing Writer, Business & Finance, Encore Editorial

Jessica Martinez covers personal insurance and budgeting for this site, drawing on an earlier career reading credit files for a living. She picked renters insurance as one of her favorite topics to write about because so few renters realize how inexpensive real protection is.