Renters Insurance Calculator: Estimate Your Cost

Most renters pay $15–$30/month for coverage. Our calculator shows real-time quotes from top providers in your area based on your location, coverage level, and deductible, no personal information needed.

Find out if you're overpaying for home insurance.

Written by Mark Fitzpatrick

Updated: June 4, 2026

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Calculate Your Renters Insurance Rate

Enter your state, coverage level and credit score below to see average renters insurance rates in your area that match your situation.

State

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Coverage Level

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Credit Alignment

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Average Monthly Premium—

State

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Average Monthly Premium—

Coverage Level

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Credit Alignment

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How We Calculate Your Renters Insurance Estimate: Our Methodology

Our calculator draws on 33,463,440 quotes collected across 56 carriers and 897 ZIP codes. Estimates are built around a claim-free adult renter between 26 and 64 years old renting an apartment or condo. The base policy carries $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 credit score 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 influence what you pay. A claims-free history often qualifies you for additional discounts, while multiple recent claims push rates above our estimates. Use your result as a directional benchmark, then compare quotes from at least three carriers to find your actual price.

See our full renters insurance methodology for more information on how we analyze quotes.

Why Your Renters Insurance Estimate May Differ From What You're Quoted

Two renters with identical coverage selections can receive very different quotes. Our calculator shows estimates based on regional pricing data and your input selections, but insurers factor in additional details when they generate your final quote.

Location within your state
Your ZIP code matters beyond your state average. In California, where the statewide average is $204 per year, renters in Modesto pay about $192 annually while renters in Los Angeles pay $232, a $40 difference within the same state. Urban areas with higher crime rates or flood exposure typically carry higher rates than suburban or rural ZIP codes nearby.
Credit history
In most states, insurers use a credit-based insurance score to assess risk and determine what you pay. This is separate from your FICO score and can add hundreds of dollars to your premium. Renters with excellent credit pay $153 per year on average, while renters with poor credit pay $483 — more than three times as much. California, Massachusetts and Maryland prohibit insurers from using credit score in their rating, so your credit history won't affect your rate if you rent in one of those states.
Deductible choice
Your deductible affects your premium directly. Renters with a $250 deductible pay $211 per year on average, while those with a $2,000 deductible pay $170. That's a $41 spread driven entirely by one policy choice. The higher your deductible, the lower your premium, though you'll pay more out of pocket if you file a claim.
Claims history
Filing a claim raises your rate at renewal. Renters with no claims in the past five years pay $196 per year on average. One claim pushes that to $216, and two claims bring it to $245 — a $49 difference from a clean record. If you've filed multiple claims in a short window, expect that gap to widen when you shop for a new policy.
Building type and construction
Older buildings, wood-frame construction, or buildings without sprinkler systems tend to carry higher risk profiles than modern concrete or steel structures
Pet ownership
Certain dog breeds flagged as high-liability by insurers, including pit bulls, Rottweilers, and German Shepherds in some states, can affect your rate or limit your pet liability coverage options.

Renters Insurance Costs by Coverage Level

How much personal property and liability coverage you carry has a bigger impact on your premium than most other factors. A policy with $20,000 in personal property coverage and $100,000 in liability costs $196 per year on average. Stepping up to $50,000 in personal property coverage brings that to $335, and a policy with $250,000 in personal property and $300,000 in liability runs $1,168. Match your coverage to the actual value of what you own rather than defaulting to the lowest tier.


$20,000	$100,000	$196
$50,000	$100,000	$335
$100,000	$100,000	$558
$250,000	$300,000	$1,168

Note: Figures reflect a claim-free adult renter in an apartment with good credit and a $500 deductible.

How Much Renters Insurance Do You Need?

The right amount of renters insurance depends on what you own and how much financial exposure you're comfortable carrying. Most renters underestimate both.

1
Estimate your personal property value
Walk through your home and inventory what you'd want replaced after a fire, theft or major loss: furniture, clothing, electronics, kitchenware and anything else you rely on daily. Assign current replacement costs, not what you originally paid. Most renters land between $15,000 and $35,000 in total personal property value once they do this exercise. Use the calculator below to estimate your coverage needs.
2
Account for high-value items.
Jewelry, instruments, collectibles and designer goods often exceed standard policy sub-limits. Standard personal property coverage may cap payouts on high-value categories at $1,000 to $2,500, which won't go far if you own a $3,000 camera or a $5,000 engagement ring. Check whether these items require a scheduled endorsement.
3
Choose the right liability protection.
Most renters select between $100,000 and $300,000 in liability coverage. If you host guests regularly or own a dog, the higher limit is worth considering.
4
Pick a deductible you can realistically afford.
A $500 deductible averages $196 per year, while a $1,000 deductible brings that down to $182 — a $14 annual difference. That savings comes with $500 more out of pocket if you file a claim, so set your deductible at an amount your emergency fund can cover comfortably.

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.

Calculating Your Renters Insurance Costs: Bottom Line

A good renters insurance policy doesn't have to be complicated. For most renters, $20,000–$30,000 in personal property coverage, $100,000–$300,000 in liability, and a $500–$1,000 deductible covers the realistic range of what could go wrong, without overpaying for coverage you'll never use. Use our calculator as your starting point, then compare the top-rated providers it surfaces. The difference between the cheapest and the best-value option is often just a few dollars per month.

Renters Insurance Calculator FAQ

Whether you're new to renters insurance or checking quotes, several common questions often arise. Here's what you need to know to make smarter coverage decisions.

How much does renters insurance cost per month?

Most renters pay between $15 and $30 per month, though costs vary by state. Renters in high-risk states like Louisiana, Mississippi, and Oklahoma pay more than those in lower-risk states like Wisconsin or South Dakota. Our calculator uses regional pricing data to give you a more accurate estimate based on where you actually live.

What factors affect my renters insurance estimate the most?

Your state and ZIP code have the single largest impact on your base rate. After location, your coverage limits, deductible amount, and credit history (in most states) are the biggest drivers. Personal factors like claims history and building type also play a role, which is why two renters with identical coverage selections can receive very different quotes.

How much liability coverage do I need on my renters insurance?

We recommend at least $100,000 for most renters, and $300,000 if you host guests frequently, own pets, or want broader financial protection. In our analysis of real quote data, the premium difference between $100,000 and $300,000 in liability coverage is just $2–$5/month. For that marginal cost, the added protection against a lawsuit or serious injury claim is almost always worth it.

Can I lower my renters insurance estimate?

Yes. The most direct levers are raising your deductible (from $500 to $1,000 saves 10%–25%), reducing personal property limits to match what you actually own, and bundling your renters policy with an auto policy from the same insurer. Maintaining a claims-free history and improving your credit score over time also helps. Our calculator lets you test different combinations in real time to see how each change affects your estimate.

Is renters insurance required by law?

No state legally requires renters insurance, but many landlords include it as a lease condition. Requirements vary; some landlords specify minimum liability limits or ask to be listed as an interested party on your policy. Even when it's not required, coverage is worth having: the average cost of renters insurance is less than $25/month, and a single theft, fire, or liability claim can cost far more than years of premiums.

About Mark Fitzpatrick

Mark Fitzpatrick, a Licensed Property and Casualty (P&C) Insurance Producer in Connecticut, is MoneyGeek's resident insurance expert. He has spent nearly a decade analyzing the market, first at LendingTree and now at MoneyGeek, where he produces original research on hundreds of carriers and millions of rates across auto, home, renters, health and life insurance.

He covers economics and insurance at MoneyGeek, and his work has been featured in The Washington Post, The New York Times and NPR, among other outlets.

Like all MoneyGeek analysts, he draws on independent cost and consumer experience data. No insurance company partnership influences his recommendations.

Fitzpatrick earned his degrees from Johns Hopkins University (M.A. Economics and International Relations) and Boston College (B.A.). His career began in financial risk management at State Street. He's also a five-time “Jeopardy!” champion.

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