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.
Frequently Asked Questions
How much does renters insurance cost?
Typically $150-$300 per year ($12-$25 per month) for $25,000 in personal property and $300,000 liability coverage in low-risk states. High-risk areas (urban Florida, coastal California, NYC) can run $350-$500. Renters insurance is the cheapest insurance product available.
Is renters insurance worth it?
Yes for almost everyone. At $15/month, replacing $15K of stolen belongings after one break-in covers 80+ years of premiums. The liability portion is even more critical \u2014 a $100,000 lawsuit from a guest injury would otherwise come from your savings and future wages.
Does my landlord's insurance cover my belongings?
No. Landlord insurance (DP-3) covers ONLY the building structure and the landlord's liability. Your belongings, your liability, and your living expenses if the place becomes uninhabitable are all on you. This is the #1 misconception about renting \u2014 and the reason most landlords require tenants to carry renters insurance.
Does renters insurance cover roommates?
Usually no. Most policies cover the named insured and their immediate family (spouse, kids). Roommates need separate policies. The cheap way to fix this: each roommate buys their own $100/year policy. The risky way (don't do this): name them on yours \u2014 but check policy language carefully.
Will renters insurance cover bedbugs?
No. Bedbug extermination is not a covered peril on standard policies \u2014 most exclude pests entirely. Tenant negligence (you brought them home) and landlord responsibility (existed before move-in) determine who pays. Bedbug-specific endorsements are rare and expensive.
Does renters insurance cover damage I cause to my apartment?
Yes \u2014 through the liability portion (Coverage E), not the personal property portion (Coverage C). If you start a kitchen fire that damages the apartment, your liability covers the landlord's repair claim. If you spill paint on the carpet, that's not 'sudden and accidental' \u2014 it's neglect, generally not covered.