Renters Insurance Calculator
Renters insurance covers your belongings, your liability and somewhere to live if your rental becomes uninhabitable. The landlord's policy covers the building, not your things.
Total cover
$145,000.00
- Estimated annual premium
- $150.00
- Estimated monthly premium
- $12.50
Values update as you type. This calculator covers the single scenario its formula assumes — see Common Mistakes for what it leaves out.
The formula this calculator uses
Total cover = contents + liability + loss of use; Premium = contents / 1,000 x rate + liability base
- contents
- Value of your belongings
- liability
- Cover if you injure someone or damage their property
- lossuse
- Cover for temporary housing
- rate
- Annual premium per 1,000 of contents
How to check the result by hand
- 1
Value your belongings
Walk through the home room by room and total the replacement value of furniture, electronics, clothing and kitchenware. The figure is usually higher than expected.
- 2
Choose a liability limit
Set a limit that protects your assets. The landlord may require a minimum, and a higher limit costs very little more.
- 3
Add loss-of-use cover
Include a loss-of-use limit for temporary housing and extra living costs if a covered event makes the rental uninhabitable.
- 4
Estimate the premium
Divide the contents value by a thousand and multiply by the rate, then add the liability base charge. Renters premiums are among the lowest of any policy.
- 5
Pick replacement cost and check exclusions
Choose replacement cost over actual cash value, and confirm that flood, earthquake and high-value items are handled as needed.
For worked examples, common mistakes and the limits of this formula, read the full How To Calculate Renters Insurance page.