Renters Insurance Calculator
Estimate your renters insurance premium based on your city, personal property value, and coverage preferences. Get instant results.
The average U.S. renter pays about $160 per year, or roughly $13 per month, for a standard renters insurance policy with $30,000 in personal property coverage and $100,000 in liability, according to MoneyGeek's 2026 state-by-state analysis. Rates vary dramatically by location: Louisiana renters pay the most at $325/year due to hurricane and flood exposure, followed by Mississippi at $320/year and Florida at $275/year. The cheapest states — Wisconsin, Wyoming, and North Dakota — cost around $104–$105/year. Your personal property value is the biggest cost driver, with each $10,000 in coverage adding roughly $25/year. Replacement cost coverage costs about 15% more than actual cash value but pays out far more after a total loss. Use the calculator below to build a personalized estimate in under 30 seconds.
Renters Insurance Estimator
Estimated Premium
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per month
Frequently Asked Questions
What does renters insurance cover?
Renters insurance covers your personal belongings against theft, fire, vandalism, and other perils. It also provides liability coverage and additional living expenses if your unit becomes uninhabitable.
How much renters insurance do I need?
Most experts recommend coverage equal to the total value of your personal possessions. A typical policy provides $15,000-$30,000 in personal property coverage and $100,000 in liability.
Is renters insurance required?
Renters insurance is not legally required, but many landlords now require it as a condition of the lease. Your landlord's insurance does not cover your personal belongings.
Actual cash value vs. replacement cost?
ACV pays the depreciated value of your items. Replacement cost pays to replace items at current market prices. Replacement cost typically costs 10-15% more but provides better protection.
Does renters insurance cover my roommate?
Roommates are generally not covered under your policy unless listed as insured. Each roommate should have their own policy for proper coverage.
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* Estimate only. Actual policy cost depends on individual qualifications and carrier rules.