Renters Insurance Coverage Needs Calculator
Most renters under-insure. Replacement cost (not cash value) on a 1-bedroom inventory typically runs $25K-$40K. This calculator sizes your contents, liability, and ALE coverage need.
| Total contents value | — |
| Recommended contents coverage | — |
| Standard liability | — |
| Additional Living Expenses (6 mo rent) | — |
| Valuables scheduling needed? | — |
Renters insurance covers your personal property, liability, and additional living expenses (ALE) if the apartment becomes uninhabitable. Coverage needs depend on your inventory value and lifestyle exposure.
Replacement Cost vs Actual Cash Value
Replacement cost pays today's price for a new item. ACV pays depreciated value (used). A 5-year-old laptop bought for $1500 might fetch $300 ACV but $1500 RC. Always buy RC — costs only 10-15% more in premium.
Liability Coverage
Standard policies offer $100K-$500K personal liability. Covers lawsuits from injuries to guests in your apartment, accidental damage to neighbor's property (kitchen fire, water leak), dog bites (with breed restrictions). $300K is typical floor; $500K-$1M for higher-income renters.
Additional Living Expenses (ALE)
If a fire, water damage, or smoke makes your apartment uninhabitable, ALE pays for hotel, restaurant meals, laundry, and storage costs above your normal expenses. Standard limit: 12-30% of contents coverage. Smart sizing: 6 months of comparable rent.
Scheduled Personal Property
Standard policies sublimit jewelry ($1500-2500), firearms ($2500), business equipment ($2500-5000), cash ($200). For valuable items beyond sublimits, add scheduled personal property (no deductible, broader perils, appraisal required).
Last updated May 2026. Sources: Insurance Information Institute, NAIC Consumer.