How much renters insurance do I need?
By Colson · Updated June 13, 2026
Choose personal-property coverage equal to the cost of replacing everything you own (often $20,000–$50,000), plus at least $100,000 of liability. Renters insurance is cheap — typically around $15 a month — for the protection it provides.
Skip ahead and run the numbers:
Estimate your renters insurance →How to size your personal-property coverage
Add up what it would cost to replace your furniture, electronics, clothing and other belongings at today's prices. Many renters underestimate this — a quick room-by-room inventory usually lands between $20,000 and $50,000. Pick replacement-cost (not actual-cash-value) coverage so you're paid today's prices, not depreciated values.
Why liability coverage matters
Liability covers you if a guest is injured in your unit or you accidentally damage the building or a neighbor's property. $100,000 is a common starting point; if you have significant savings, consider more. It's a small part of an already-cheap premium.
Is renters insurance worth it?
At roughly $15 a month, yes for almost everyone — and many landlords require it. It protects your belongings against theft, fire and many disasters, covers liability, and pays for temporary housing if your unit becomes uninhabitable.
Frequently asked questions
How much renters insurance should I get?
Enough personal-property coverage to replace all your belongings (commonly $20k–$50k) plus at least $100,000 in liability. Choose replacement-cost coverage for the best payout.
How much does renters insurance cost?
Nationally about $150–$200 a year (roughly $15 a month) for $30,000 of personal property, varying by state and coverage level.
Does renters insurance cover my roommate?
Not automatically — policies generally cover only the named policyholder. Roommates typically need their own policies unless specifically added.
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