Renters insurance is cheap, but guessing your coverage is how you end up underpaid.
A renters policy runs a few dollars a month and covers three very different things: your belongings, your liability, and the cost of living elsewhere if your unit becomes unlivable. Here is how to size each one instead of accepting a default.
Open the renters calculator →What this is
Your landlord's insurance covers the building, not a single thing inside your unit. That part is on you. Renters insurance is one of the best values in all of insurance, but most people pick a personal-property limit out of the air and never learn their belongings are worth two or three times that. We are not an agent and we do not sell policies; this is just the honest way to size the coverage.
What renters insurance covers
Personal property (Coverage C)
Your belongings (furniture, electronics, clothing, kitchen, everything), whether they are damaged at home, in your car, or while you travel. The right limit is the actual sum of what you own, which is almost always more than people guess. Always choose replacement-cost coverage, not actual cash value.
Liability (Coverage E)
If a guest is injured in your unit or you damage someone else's property, this pays their costs and your legal defense. $100,000 is a common floor; $300,000 costs very little more and is the safer choice. Size it to the savings you would need to protect.
Loss of use (Coverage D)
Pays for a hotel and extra living costs if a covered event makes your unit uninhabitable. Usually set as a share of your personal-property limit, so it scales when you get Coverage C right.
Scheduled valuables
Standard policies cap categories like jewelry, watches, and cameras, often around $1,500 total. If your valuables exceed that, a scheduled personal property endorsement insures them for their full appraised value.
Free calculators
Run your own numbers: no account, no email, nothing stored. Every tool is open source and shows the method it uses.
Renters Coverage Calculator
Add up your belongings for the right personal-property limit, size your liability, and see your loss-of-use cushion.
Read next
How much renters insurance do you actually need?
Set personal-property, liability, and loss-of-use coverage on purpose instead of guessing from a dropdown.
What renters insurance does not cover
Floods, roommates, pricey jewelry, your car: the six hard edges people hit at claim time, and the cheap fixes.
Is renters insurance worth it?
What a few dollars a month actually buys, and the rare case where you can skip it.
Actual cash value vs. replacement cost
The one setting that decides whether a claim replaces your stuff or pays its depreciated shadow.
How renters liability actually works
The half of the policy that protects your paycheck: guest injuries, damage to the building, and how much to carry.
Does renters insurance cover water damage?
Burst pipe vs. flood vs. sewer backup: where coverage stops, and the cheap endorsement that closes the gap.
Renters insurance with roommates
Share a policy or get your own? Why separate policies are usually cheaper, cleaner, and safer.
Does renters insurance cover theft from your car?
Your belongings are covered off-premises; the car and its parts fall to auto. The split-coverage rule.
How we’re different
Most insurance sites exist to sell you a policy, so every page ends in “get a quote.” We are not licensed agents and we do not sell coverage, which frees us to say the unprofitable thing, including when to carry less:
- Choose replacement cost over actual cash value: the premium difference is small, but ACV subtracts years of depreciation and pays pennies on older items.
- You almost certainly own more than you think; the categories add up fast once you actually list them.
- If your jewelry or electronics are worth more than the standard category cap, schedule them; otherwise a theft claim pays only a fraction.
Common questions
- How much renters insurance do I need?
- Enough personal-property coverage to replace everything you own: add up furniture, electronics, clothing, and the rest; most renters land between $20,000 and $40,000. Add at least $100,000 of liability (more if you have savings to protect) and confirm loss-of-use is included.
- Does my landlord's insurance cover my stuff?
- No. Your landlord's policy covers the building structure only. Anything inside your unit, and your liability for injuries or damage, is yours to insure. That is exactly what a renters policy is for.
- Replacement cost or actual cash value: which should I pick?
- Replacement cost, nearly always. It pays what a new equivalent item costs today. Actual cash value subtracts depreciation, so a five-year-old laptop or sofa pays out a fraction of what you would spend to replace it. The extra premium is small.
- Is renters insurance worth it?
- For a few dollars a month it replaces your belongings after a fire or theft, covers you if someone is hurt in your home, and pays your living costs if you are displaced. Very few insurance products offer this much protection per dollar.
Run your numbers
See what the coverage math says for your situation: free, instant, and nothing stored.
Open the renters calculator →Method: category inventory for Coverage C · asset-based liability sizing · standard loss-of-use ratio
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