Renters Insurance Calculator

Estimate renters insurance premium based on personal property value, coverage type, and deductible.

By Konstantin Iakovlev · Updated April 2026 · Source: CDC

$
Coverage Type
Liability Coverage
Deductible

Estimated Monthly

$22.00

Estimated Annual

$264.00

Coverage Type

Replacement Cost

Coverage Breakdown

Personal Property$25,000.00
Liability Protection$100,000.00
Deductible$500.00
Coverage TypeReplacement Cost

Deductible Comparison

$500 deductible$22.00/mo ($264.00/yr)
$1,000 deductible$19.80/mo ($237.60/yr)
$2,500 deductible$17.60/mo ($211.20/yr)

What Renters Insurance Covers

  • Covered: theft, fire, vandalism, water damage (non-flood), personal liability
  • Not covered: floods, earthquakes, roommate belongings, car contents
  • Replacement cost pays to replace items at current prices; ACV deducts depreciation

Use the Renters Insurance Calculator above to calculate your results. Enter your values and see instant results — all calculations run in your browser.

Disclaimer: This calculator is for informational purposes only and does not constitute tax, financial, or legal advice. Results are estimates based on the information you provide and current rates. Always consult a qualified tax professional or financial advisor for advice specific to your situation.

How It Works

Renters insurance is one of the cheapest forms of financial protection a tenant can buy, and knowing the likely price tag makes it easier to fit into a budget. With the average renters premium projected to reach around $185 annually in 2026, this estimator gives you a quick read on what protecting your belongings might cost before you start shopping policies.

Behind the scenes, a weighted average premium model pulls together three inputs: the value of your personal property, whether you pick Actual Cash Value or Replacement Cost coverage, and the deductible you select. Base rates scale with a property value coefficient and then move inversely with your deductible, so a larger deductible pulls the premium down. Choosing Replacement Cost, which is the more thorough option, typically adds 10-15% on top of the Actual Cash Value premium.

Treat the result as a starting point rather than a quote, since your real premium shifts with location, credit history, and the specific insurer. Two habits pay off here: inventory your belongings carefully so you don't lowball the value of your property, and learn the gap between Actual Cash Value, which pays the depreciated worth, and Replacement Cost, which pays for a brand-new item. That distinction is where renters most often get caught off guard at claim time.

Example: Protecting Your New Apartment in 2026

  1. 1 **Step 1: Input Your Details** Imagine you're moving into a new apartment in 2026 and estimate your personal property (furniture, electronics, clothing) to be worth $25,000. You prefer the comprehensive protection of Replacement Cost coverage and are comfortable with a $500 deductible to keep your premiums down.
  2. 2 **Step 2: The Calculation in Action** Our calculator takes your $25,000 personal property value, applies a base premium rate, then adjusts it upwards for Replacement Cost coverage (adding approximately 12.5% to the base). Finally, it factors in your $500 deductible, which offers a moderate premium reduction.
  3. 3 **Step 3: Your Estimated Premium** Based on these inputs, your estimated annual renters insurance premium for 2026 would be approximately $195. This figure reflects the current market trends and the specific coverage choices you've made.
  4. 4 **Step 4: Understanding Your Estimate** This $195 estimate provides a solid starting point for your budgeting. While it's an excellent guide, remember to get actual quotes from multiple insurance providers, as rates can vary. This estimate helps you gauge the financial commitment for robust protection of your belongings.

Source: CDC · Last updated: April 2026

Frequently Asked Questions

How much does renters insurance cost in 2026?
The average renters insurance policy costs $15-$25 per month ($180-$300/year) in 2026 for $30,000 in personal property coverage and $100,000 in liability. Rates vary by location, coverage amount, and deductible.
What does renters insurance cover?
Renters insurance covers personal property (theft, fire, water damage), liability (someone injured in your apartment), and additional living expenses if your rental becomes uninhabitable. It does not cover floods or earthquakes.
How much personal property coverage do I need?
Make a quick inventory of your belongings. Most renters have $20,000-$50,000 in personal property. Consider electronics, furniture, clothing, and jewelry. Choose replacement cost coverage rather than actual cash value for better protection.

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