Renters Insurance Cost Calculator
Get a fast estimate of HO-4 renters insurance cost for your apartment, condo, or rented house.
What Renters Insurance Actually Covers
A renters insurance policy (HO-4) provides three core protections: (1) Personal Property (Coverage C): Replaces your belongings if damaged/stolen/lost — even outside your apartment (laptop stolen from car, suitcase lost on trip). (2) Personal Liability (Coverage E): Pays if you accidentally injure someone or damage their property — e.g., your overflowing bathtub damages downstairs neighbor's ceiling. (3) Additional Living Expenses (Coverage D): Pays hotel and food cost if your apartment becomes uninhabitable due to a covered loss (fire, severe water damage).
What it doesn't cover: floods (need NFIP separately), earthquakes (need rider), most jewelry over $1,500 (need scheduled rider), business equipment used in home (need rider). Source: National Association of Insurance Commissioners (naic.org). Last updated: May 2026.
Why $25K Personal Property Coverage Is Standard
Most renters underestimate the cost to replace everything they own. Quick inventory: TV $800, laptop $1,500, phone $1,000, gaming console $500, kitchen appliances $1,000, clothing $3,000, mattress and bedding $2,000, sofa $1,500, books $500, bike $800. That's $12K+ before even considering furniture, electronics, kitchenware, and collections.
Walk through each room mentally and total up replacement cost. Most renters need $20K-$40K to fully replace their belongings — especially anyone with a home office, collection (records, comics, kitchen gear), or extensive wardrobe.
Actual Cash Value vs Replacement Cost
The biggest difference between cheap and adequate renters policies. Actual Cash Value (ACV) pays current depreciated value — a 5-year-old laptop pays out $300, not the $1,500 to replace it. Replacement Cost (RC) pays today's price for an equivalent new item. RC costs 10-20% more but is essential for most renters. Always confirm 'replacement cost' on your policy before buying.
When You Need a Personal Articles Rider
Standard renters policies typically cap jewelry at $1,500, firearms at $2,500, electronics at $3,000, and collectibles at $2,000. If you own items above these limits, schedule them on a Personal Articles Floater rider — adds $1-$4 per $100 of value per year for jewelry, photography equipment, musical instruments, fine art, or rare collectibles. The rider also drops the deductible to $0 for scheduled items.