Norton Seal Insurance Calculator

Renters Calculator

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.


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.


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!


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?


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.

What’s the Average Cost of Renters Insurance?

The cost of renters insurance depends on your policy — but the good news is most policies are extremely affordable. On average, renters insurance is less than $15 a month!

So how is your renters premium calculated? Here are a few factors that can affect the price of your policy:

  • Coverage limits
  • Location of residence
  • Property type
  • Replacement cost vs actual cash value
  • Deductible amount

Renters Insurance Cost FAQs

  1. Many insurance companies offer the option to pay your renters premium every month, bi-annually, quarterly or annually. If you do have the option to pay bi-annually or annually, many insurers offer a “pay in full” discount to help you save on your premium. You’ll also enjoy the convenience of a one-time payment!

    At American Family, you can choose to pay your minimum amount due every month or pay in full and save on your premium!

  2. Renters insurance includes coverage for liability in case you or your pet accidentally hurt another person or damage their property. You could be responsible for paying things like medical bills, legal fees or property damage.

    While your renters insurance usually covers your pet for liability cases, remember you’ll have a liability coverage limit, which means you’ll be covered up to a certain amount. For further protection and more peace of mind, you can choose to add additional liability coverage, which would slightly increase the cost of your renters insurance.

  3. It depends. Your price may go up, but there are several factors that impact your premiums. Your best bet is to speak with your agent and they’ll help you better understand how filing a claim may or may not impact your cost. Keep in mind, even if you file a claim and the price goes up, renters insurance is incredibly affordable, often less than $15 a month!

  4. Nope, unfortunately your roomie is on their own and not covered by your renters policy. They’ll need to purchase their own coverage to protect their stuff — we can help them with that, though!

Take a Closer Look at the Cost of Renters Insurance

Your coverage limits are one of the main factors that determine how much your renters insurance costs. A renters insurance policy is built with standard coverage limits, which are maximum amounts your policy helps pay in case you have a claim. Your personal property and liability coverage both offer protection up to two different dollar amounts.

If you have more valuable items to protect, like jewelry or expensive electronics, you can extend your coverage limit with itemized personal property coverage. This not only gives you a higher coverage limit, but those items will be covered for more types of events. When extending coverage limits, the cost of your renters insurance premium will be impacted.

Where you live may also influence the cost of your renters insurance. While the cost of insurance varies from one location to another for a variety of reasons, it’s especially relevant if you live in an area that’s prone to natural disasters, like flooding or earthquakes. A standard renters policy doesn’t cover things like floods or earthquakes and you’ll need to add separate coverage for those types of events. This results in a higher price tag for your insurance — which is still a small price to pay compared to potential repair or replacement costs.

Replacement cost value (RCV) and actual cash value (ACV) are two important types of coverage to understand. RCV costs slightly more than ACV — which pays you what your property is worth today. But if your property is damaged from an unexpected event, having RCV coverage means we’ll replace your property with new property of the same type, kind and quality and you won’t have to worry about paying more than your deductible to fully cover the damaged item. Here’s a closer look at how replacement cost value coverage protects you.

A deductible is the amount you’ll pay before your insurance company helps cover the cost for damages after you file a claim. How does your deductible affect the cost of your renters insurance? A good rule of thumb is the higher you set your deductible, the lower your premium will be. On the other hand, the lower your deductible, the higher your premium will be.

Simple Ways to Save on Renters Insurance

What’s one of the simplest ways to save on your renters insurance? Bundle your auto and renter insurance policies! In fact, on average, you could save 29% on your auto coverage and 15% on your renters coverage.*
If your apartment or home is equipped with a qualifying smart device, you could be in for a better rate with our proactive home protection discount.
Streamlining your payment habits has its rewards when you take advantage of our AutoPay, Full Pay and Paperless discounts.

Ready to Protect Your Stuff

Get a renters insurance quick quote and find out what renters near you pay.

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Additional Resources for Renters

*The average customer who bundles can save these percentages on each policy. Discounts may vary by state, property, policy form and company underwriting the auto policy. Discounts may not apply to all coverages on an auto or personal property policy.