How much does renters insurance cost?

The average renters insurance policy costs $15-30/month for $30,000 in personal property coverage. Costs vary by location, building type, deductible, and coverage amount. Our calculator gives you a personalized estimate based on your specific situation.

Should roommates get joint or separate renters insurance?

Separate policies are usually better — each person's belongings are covered independently, and one person's claim doesn't affect the other. Joint policies are cheaper but create complications if one person moves out or files a claim. Our calculator compares both options.

How much personal property coverage do I need?

Walk through your apartment and total the replacement cost of everything you own: electronics, furniture, clothes, kitchen items. Most people underestimate — the average renter owns $20,000-30,000 worth of belongings. Our calculator helps you estimate based on categories.

What does renters insurance actually cover?

Three things: personal property (theft, fire, water damage), liability (someone gets hurt in your apartment), and additional living expenses (hotel costs if your unit becomes uninhabitable). It does NOT cover your roommate's belongings unless you have a joint policy.

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Renters Insurance Calculator

Renters insurance is cheap but confusing — especially with roommates. This calculator estimates your premium based on property value, deductible, location, and building type. Then compares individual vs. joint policies and recommends the best approach for your household.

By Baljeet AulakhUpdated February 2026Reviewed for accuracy

Estimate your renters insurance premium based on your personal property value, deductible, city, and building type. Find out if a joint policy with roommates saves money or if separate policies are smarter. Get a coverage recommendation with a category breakdown showing how much of your belongings fall into electronics, furniture, clothing, and more — so you know exactly what you are protecting.

Coverage Details

Personal Property Value

Total value of everything you own (electronics, furniture, clothing, etc.)

Number of Roommates

Including yourself (1 = just you)

Deductible

Higher deductible = lower premium

Liability Coverage

Covers injuries or property damage to others

City

High-cost cities (NYC, SF, LA) increase premiums

Building Type

How This Calculator Works

Enter Your Details

Fill in amounts, people, and preferences. Takes under 30 seconds.

Get Fair Results

See an instant breakdown with data-driven calculations and Fairness Scores.

Share & Settle

Copy a shareable link to discuss results with everyone involved.

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