It takes three inputs and a few seconds. Choose your state, coverage level and deductible, and the calculator gives you an average annual premium you can use as a benchmark.
Renters Insurance Calculator: Estimate Your Cost November 2026
Updated: November 11, 2026
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Key Takeaways
A claim-free adult renter in Wyoming pays $9 a month for standard coverage. The same renter in Mississippi pays $29, a $242 difference over a year.
Moving from $20,000 to $50,000 in personal property coverage adds $125 a year, about $4 per extra $1,000 in coverage.
Insurer and credit score each change what the same policy costs. Amica averages $116 a year and Allstate $178, and poor credit costs an average of $329 more than excellent credit.
MoneyGeek's Renters Insurance Calculator
Select your state, coverage level and deductible to see the average annual premium for a renter with no prior claims and good credit. Then select Get Quotes to compare insurers in your area.
Select State
Select Coverage Level
Select Deductible
Average Annual Premium—
Select State
Average Annual Premium—
Select Coverage Level
Select Deductible
Our calculator draws on 33,463,440 quotes collected across 56 insurers and 897 ZIP codes. We built estimates around a standard profile: a claim-free adult renter ages 26-64, renting an apartment or condo, with good credit, $20,000 in personal property coverage, $100,000 in liability, and a $500 deductible. Your estimate reflects average rates for that profile in your state at the coverage level and deductible you select.
Actual quotes will account for details the calculator doesn't capture. Your ZIP code within a state, building type and construction, pet ownership, credit score tier, and claims history all affect your final rate. Use your result as a directional benchmark, then compare quotes from at least three insurers, including at least one regional carrier available in your state, before making a final decision.
How to Use MoneyGeek's Renters Insurance Calculator
- 1State
Pick the state you rent in. Average annual premiums run from $104 in Wyoming to $346 in Mississippi.
- 2Coverage level
Choose from four options, ranging from $20,000 in personal property and $100,000 in liability to $250,000 and $300,000. Not sure which fits? Add up the value of your belongings first.
- 3Deductible
Set how much you’d pay out of pocket on a claim, from $250 to $2,000. A higher deductible lowers your premium, but going from $500 to $1,000 saves only $14 a year.
- 4Your result
Use the annual premium as a benchmark for any quote you receive. Select Get Quotes to see which insurers sell in your area.
COMPARE QUOTES AT THE SAME COVERAGE LEVEL
Two quotes that differ by $10 a month may only differ in coverage. Going from $20,000 to $50,000 in personal property adds $125 a year, about $10 a month. Ask every insurer to quote the same personal property limit, liability limit and deductible so you’re comparing prices for the same policy.
What Impacts Your Renters Insurance Rate
State, credit score and insurer each change the price of the same policy by $20 or more a month. Coverage limits change what you’re buying: a policy runs from $15 a month at $20,000 in personal property and $100,000 in liability to $93 at $250,000 and $300,000. Claims history and deductible move the price by less than $4.
All figures use the standard profile in our methodology: a claim-free adult renter in an apartment or condo with good credit, $20,000 in personal property and $100,000 in liability coverage, and a $500 deductible. Only the factor in each section changes.
How Much Personal Property Coverage Do You Need?
Add up what it would cost to replace your belongings, one category at a time. The total is the personal property limit to look for when you compare quotes.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Why Your Renters Insurance Estimate May Differ From What You're Quoted
The calculator shows an average for your state, coverage level and deductible. A quote adds details about you and your building.
Location within your stateOur rate data is state-level. Your ZIP code adds another layer, and urban ZIP codes with higher crime or flood exposure can price above the state average.
Your age and home typeThe estimate assumes an adult renter ages 26 to 64 in an apartment or condo. Renting a house adds 12% to the premium, renters ages 18 to 25 pay 11% more, and renters 65 and older pay 9% less.
Your credit and claims recordYour own credit tier and claims history shift the price by the amounts shown in the Credit Score and Claims History sections above.
These adjustments stack by multiplying. An 18-to-25-year-old renting a house pays about 24% more than the estimate, and one claim adds 10% to any premium. That’s about $18 a year at good credit and about $47 at poor credit, so a claim costs more when your base rate is higher. If you’re under 26, rent a house or have poor credit, plan on a quote above the average, and weigh a small claim more carefully before you file.
Next Steps After Getting Your Estimate
Your estimate shows what the average renter in your state pays. Your own quote depends on what you own and how you shop, so start with these four steps.
- 1Total your belongings.
Walk through your home and price each item at what it would cost to replace today, not what you paid. The personal property calculator adds it up by category.
- 2Check your lease.
Some landlords require renters insurance, set a minimum liability limit or ask to be listed as an interested party. Confirm what yours requires before you buy.
- 3Ask about flood coverage.
Standard renters insurance policies don’t cover flood damage. From 2014 to 2024, nearly one-third of National Flood Insurance Program claims came from outside high-risk flood areas. If flooding is possible where you live, ask about a separate flood policy.
- 4Get at least three quotes.
Every insurer prices policies differently, so it's worth comparing multiple options to see which company is best for your situation. Enter your ZIP code in the quote tool to see which insurers sell in your area.
Calculating Your Renters Insurance Costs: Bottom Line
A claim-free adult renter with good credit pays about $15 a month for $20,000 in personal property and $100,000 in liability coverage. Your state sets the starting point, from $9 in Wyoming to $29 in Mississippi, and your credit score and insurer can each move the price by $20 or more a month. Higher coverage limits raise it further. Your deductible and claims history move it by less than $4 a month. Use the calculator to get your state’s average, then compare quotes at the same coverage limits.
Renters Insurance Calculator FAQ
A claim-free adult renter with good credit pays an average of $15 a month for $20,000 in personal property and $100,000 in liability coverage with a $500 deductible. The average runs from $9 in Wyoming to $29 in Mississippi. Your credit score, coverage limits and insurer move the price from there.
State, credit score and insurer each change the price of the same policy by $20 or more a month. Coverage limits change what you’re buying: a policy runs from $15 a month at $20,000 in personal property and $100,000 in liability to $93 at $250,000 and $300,000. Claims history and deductible move the price by less than $4 a month.
Among eight well-known national insurers, Amica has the lowest average premium at $10 a month for a standard policy, followed by Lemonade at $11 and State Farm at $12. Smaller regional companies take most of the 10 cheapest spots among the 56 insurers we priced. Which companies are cheapest depends on your state, so enter your ZIP code in the quote tool to see who sells where you live.
Yes. Compare quotes from several insurers, since the same policy can price differently from one company to the next. Raise your credit score if you can, because each tier up saves at least $43 a year. Raise your deductible only if you could pay it from savings. Going from $500 to $1,000 saves $14 a year. Skip coverage you won’t use, but don’t set your personal property limit below what you own: each extra $1,000 costs about $4 a year, so a limit that’s too low saves little and leaves you paying the difference.
No state requires renters insurance, but some landlords require it in the lease and set a minimum liability limit. Check your lease before you buy.
About Mark Fitzpatrick
Mark Fitzpatrick is a licensed Property and Casualty (P&C) Insurance Producer and MoneyGeek's resident expert in insurance and economics. In nearly a decade covering the insurance market at LendingTree and MoneyGeek, he's analyzed hundreds of carriers and millions of rates across auto, home, renters, health and life insurance.
His work has appeared in The Washington Post, The New York Times and NPR. He draws on independent cost and consumer experience data, and no insurance company partnerships affect his recommendations.
Mark studied at Boston College and later earned a master's in economics and international relations from Johns Hopkins University. He worked in financial risk management at State Street before joining MoneyGeek. He's also a five-time “Jeopardy!” champion.
Sources
- Federal Emergency Management Agency. "What is my flood risk? Flood Smart." Accessed October 28, 2026.
- Maryland Insurance Administration. "Use of credit history for underwriting and rating." Accessed October 29, 2026.
- National Association of Insurance Commissioners. "Credit-based insurance scores." Accessed November 2, 2026.