Renters Insurance 101

How Does Renters Insurance Work?

Your personal possessions turn the space you rent into a place that’s uniquely yours, and we think that’s worth protecting. As a renter, you may think you don’t have that many valuables, but if you start to count the cost of your belongings — from your TV, laptop, camera, clothes, furniture, etc. — the number adds up.

Think about this:

  • Your neighbor forgot to blow out a candle…
  • Someone broke in and stole your TV…
  • A friend gets hurt at your get together…
  • Your laptop is stolen while you’re working at a coffee shop…

Unfortunately, you’d be responsible for paying out of pocket for scenarios such as these.

The good news? You can be proactive about financially protecting yourself from the unexpected. Renters insurance is an easy and affordable way to protect your personal property, provide liability coverage and even has your back on the go.

Let’s take a look at everything you need to know about renters insurance.

How Much Is Renters Insurance?

Not as much as you think.

There are a number of factors that go into the cost of your coverage, so the price for renters insurance is going to be different for everyone — but a typical premium for renters insurance is usually less than the price of one dinner out with friends. The estimate of your possessions, your location and added on coverage are a few things taken into consideration when calculating the cost of renters insurance.

Looking to save more money? You can also bundle your renters insurance with other policies — such as your car insurance coverage. Check out our discounts for streamlining your coverage with an auto and renters bundle.

How Much Renters Insurance Do I Need?

Take a look at how much stuff you own. Typically, to see how much coverage you need, you’ll add up all of your belongings in your apartment and use that as an estimate to start.

You’ll want to make sure your coverage limit is enough to help cover the cost to replace your belongings should the unexpected happen. An agent will help factor in how your location affects the cost and also any added coverage you might want, like identity theft protection.


How Much Would it Cost to Replace All Your Stuff?


Enter how much your belongings are worth and we’ll help you estimate how much it’d cost to replace everything you own and how much it’d cost to cover it all with renters insurance.

Jewelry

How much jewelry do you own? Add up everything from watches and an engagement ring to antique jewelry and diamond earrings. Keep in mind, if the total value of your jewelry is more than the jewelry limit on your policy it’s a good idea to add additional coverage.

Electronics

Add up what your electronics are worth. Think TVs, computers, gaming systems, stereos, guitar amps and more. Your renters insurance helps protect them from things like damage and theft — even when you're on the go!

Clothing

From your winter jacket to your favorite pair of leather boots, the cost of all your clothes adds up to more than you think. How much would it cost to replace all the clothing in your closet if they were damaged from something like smoke or fire?

Furniture

Whether it’s a hand-me-down futon or a leather couch you invested in, if the furniture in your home was damaged or destroyed, would you be able to replace it all out of pocket? Your bed set, dresser, couches, recliners, desk — how much would it cost to replace everything?

Other Assets

What else do you own? Consider things like a bicycle, appliances, artwork, record collection, books, musical instruments, collectibles — anything you’d want covered if it was damaged or destroyed by an unexpected event.

You would need to replace
$
worth of stuff
You would need to replace
$
worth of stuff
Renters in your state pay
on average for insurance*
*The estimated monthly payment shown is an average of what renters pay in your area. Your actual premium will be based on your coverage limits.
Looks like American Family Insurance doesn’t offer renters insurance in your state – no problem! We’ll set you up with one of our partners to get you the coverage you’re looking for. Click Start Quoting to begin.

Get an Estimate in Seconds

People Near You Pay
$15.00/mo
Per Month On Average

*Follow up with an agent for a more accurate quote

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