Renters insurance calculator: Estimate renters insurance cost in 2025

How to use a renters insurance calculator: Step-by-step

Using our renters insurance calculator is an easy way to estimate how much you can expect to pay for the coverage you need. Here's how to use it:

1. Enter your ZIP code. The calculator will provide estimated rates specific to where you live, not just on a state level but for your ZIP code, finding insurance companies that offer coverage in your area.
2. Select the amount of personal property coverage you need. We offer coverage estimates at three different common levels; choose the one closest to what you need, but err on the side of extra coverage by rounding up.
3. Select a deductible. This is the amount you will pay out of pocket if you file a claim, and it impacts how much you pay for renters insurance.
4. Select a liability level. Standard coverage is $100,000, but you can request estimates at a higher level if you choose.

When you hit search, the calculator will find rates by company in your area for the coverage you requested, giving you averages and comparisons to help you find the lowest rates.

How to calculate how much renters insurance you need

You need enough renters insurance to repair or replace all your personal property if anything is damaged in a fire, stolen or vandalized. Here's how to get the right coverage:

1. Take stock of everything you own. This includes everything from your TV to your towels. “A wise first step is to take an inventory of your personal belongings,” says Lynne McChristian, Director, Office of Risk Management & Insurance Research and Senior Instructor at the Gies College of Business, University of Illinois. “Conduct a room-by-room survey of what you own, noting the higher-value items, such as appliances, furniture and electronics. Know how much it would cost you to replace all that stuff – and that is the amount of renter’s insurance you need.”
2. Take special note of anything that is of high value. Jewelry, art, musical instruments and collectibles may need scheduled personal property coverage.
3. Determine how much personal liability coverage you need. A standard renters insurance policy includes $100,000, but increasing to $300,00 costs very little. Consider your level of risk for a lawsuit.
4. Consider endorsements. Standard renters insurance covers your personal property at actual cash value, but you can add an endorsement to provide replacement cost coverage, which replaces everything at the cost to buy it new today.

How much is renters insurance?

The average cost of renters insurance in the U.S. is $263 a year or $22 a month, based on coverage of $40,000 for personal property with a $1,000 deductible and $100,000 in liability coverage. Check out the average cost of renters insurance in your area below.

Average renters insurance rates by company

Renters insurance rates vary by location as well as by company. Among national companies, State Farm offers the cheapest renters insurance at $195 a year on average.

How to estimate renters insurance cost in 2025: An example

Here's a step-by-step look at how to calculate renters insurance coverage needs, which we'll illustrate with the example of a new renter we'll call Gabriel. Gabriel has recently finished college and rented his first apartment, which he has newly furnished. Here are the steps he'll follow to make sure his property is protected:

1. Take an inventory of all your personal belongings. Gabriel makes a list of everything he has in his new apartment, including the new towels and dishes he purchased, his furniture, clothes and electronics. He notes that he has a gold watch that was gifted to him as a college graduation gift, worth $5,000. He determines that he needs $40,000 in personal property coverage and a scheduled personal property endorsement for the watch, since his coverage limits jewelry and watches to $1,500.
2. Consider actual cash value (ACV) vs. replacement cost coverage. Gabriel wants to be sure his property will be replaced if something happens, so he chooses to upgrade his coverage to replacement cost, which pays the amount required to replace items at their value today. A standard actual cash value policy only pays the depreciated value of each item, so Gabriel decides the upgrade is worth the extra cost.
3. Decide how much liability coverage you want. Gabriel decides to stick with the standard included liability coverage of $100,000, since he doesn't have a lot of assets and has a low-risk lifestyle. He plans to review his coverage annually as he advances in his career and gathers more assets.

Gabriel needs a renters insurance policy with $40,000 in personal property coverage, a scheduled personal property endorsement for his $5,000 watch and $100,000 in liability coverage. With these coverage limits ready, Gabriel can compare renters insurance rates apples to apples across companies.

How to compare renters insurance quotes

Once you have renters insurance quotes in hand, you can review and compare them with these easy steps:

• Review the main coverages to ensure they are the same. You should have the same personal property coverage limits, liability limits and deductible on each quote. Look for replacement cost vs. actual cash value coverage.
• Compare rates and discounts. Beyond the final premium on the quote, look at what discounts were included. Does one company offer a discount another doesn't?
• Look for extras. Some companies include free extras that others charge for. Read through what each policy includes to see if any one options stands out.
• Consider company reputation. Research the companies you are considering to ensure you're picking one with a good reputation for claims and service. Our best renters insurance companies of 2025 is a good place to start.

What factors are used to calculate renters insurance rates?

Insurance companies look at the following factors to calculate your renters insurance rates:

• Your ZIP code
• Your coverage amounts  
• Your claims history 
• Weather patterns in your area 
• Theft and crime trends in your ZIP
• Your credit score, in most states

Severe weather, high crime and a history of claims translate to higher rates.  

Methodology:

Renters insurance rates are fielded in partnership with Quadrant Information Services across all 50 states and Washington, D.C.

Our rate calculator includes data points for

• $20,000, $40,000 and $60,000 in personal property coverage
• $100,000 and $300,000 in liability coverage
• $500 and $1,000 deductibles

Estimates are based on a renter with good credit. Company rate availability varies by state.

Learn more about our data and methodology.

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