Renters Insurance Coverage
Renters insurance: $15-25/mo typical. Calculate personal property replacement value + liability ($100K-$500K) + ALE for displacement.
| Electronics | — |
| Furniture | — |
| Clothing | — |
| Jewelry/valuables | — |
| Other belongings | — |
| Total personal property | — |
| Recommended liability | — |
| ALE coverage (6× rent) | — |
| Est. annual premium | — |
Renters insurance covers your personal property, liability if guests get injured, and Additional Living Expenses (ALE) if your unit becomes uninhabitable. Premiums average $15-25/month — cheap protection for $30K+ of belongings.
Personal Property Coverage
List every electronic, piece of furniture, clothing item, jewelry, and valuables you own. Most renters underestimate by 40% (Insurance Information Institute). Standard policy covers up to $30K-$50K — choose replacement cost (RC), not actual cash value (ACV).
Liability Coverage
Recommended $300K minimum. Covers if guest slips and falls, dog bites, fire damage to neighbor's property. $100K is too low — modern litigation often exceeds. Each $200K of additional liability adds ~$20/year.
Additional Living Expenses (ALE)
If your apartment burns or floods, ALE pays for hotel + food while you find new housing. Recommended 6× monthly rent. Standard policies include $10K-$30K — verify enough to cover 6 months in your area.
What's NOT Covered
Floods (separate NFIP policy). Earthquakes (separate rider). Roommate's stuff (each rents separate). Cash above $200. Business equipment above $2,500. Jewelry above $1,500 (need scheduled rider).
Last updated May 2026. Sources: III Renters Insurance Guide, NAIC Consumer Center.