Renters Insurance Cost Calculator
Cover you need and what it should cost.
Enter your values
ⓘ Live results
Results
- Contents cover needed
- $16,000.00
- Estimated annual premium
- $295.20
- Monthly premium
- $24.60
- Your deductible
- $500.00
- Liability cover
- $300,000.00
- Cost per $1,000 of cover
- $18.45
Quick answer
Contents cover should equal the replacement cost of everything you own, not its resale value — most renters underestimate this by half.
Premium ≈ (contents ÷ 1000) × rate × deductible factor
How to use the Renters Insurance Cost Calculator
- 1Add up the replacement cost of your belongings by category.
- 2Pick a deductible you could pay tomorrow.
- 3Choose liability cover — $300,000 is the common baseline.
Worked example
Using the values the calculator loads with:
Inputs
- Furniture and appliances6000 $
- Electronics4500 $
- Clothing3000 $
- Jewellery, sports gear and other2500 $
- Deductible$500
- Liability cover$300k
Results
- Contents cover needed$16,000.00
- Estimated annual premium$295.20
- Monthly premium$24.60
- Your deductible$500.00
- Liability cover$300,000.00
- Cost per $1,000 of cover$18.45
Frequently asked questions
Is renters insurance worth it?
At roughly $15–25 a month for tens of thousands in cover plus liability protection, it is one of the cheapest forms of insurance available.
Does it cover my laptop away from home?
Usually yes — personal property cover typically follows you, though high-value items like jewellery and cameras often need a scheduled endorsement.
About this calculator
- Built and reviewed by James Whitfield · How we build and test calculators
- Report an error
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.