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How Much Renters Insurance Do You Really Need?

By July 25, 2023August 2nd, 2023No Comments
A photo of apartment buildings against a blue sky.

It’s a Common Question: “How Much Renters Insurance Do I Actually Need?”

If something happened to your apartment today and you had to start from scratch tomorrow, how much would it cost you?  

This is a number you need to know.

Let’s Get Started

1. Determine by room how much it would cost to replace its contents if you had to replace them tomorrow, not how much you spent on them.

Use our Renters Insurance Calculator to easily calculate the value of your home’s belongings.

What Does Renters Insurance Really Cover?

While policies vary, most offer coverage for the following:

Personal property coverage: This helps cover the costs to repair or replace belongings damaged or stolen due to a loss covered under your policy. Furniture, electronics, and clothing can all be covered under personal property coverage. The landlord or apartment complex policy does not cover any personal property within your living space.

Additional living expenses: If the apartment or home you’re renting becomes uninhabitable, your renters’ insurance policy can pay for your relocation costs as well as anything considered an extra expense under the policy—such as laundry, meals, or storage-related costs.

Personal liability coverage: If someone is injured or their personal items are damaged on your rented property due to negligence, personal liability coverage can help pay any medical bills or damages, up to your policy limit.

Get the Best Renters Insurance Price for Your Needs

Before you make a final decision, there are a few more things to consider:

  • Additional Coverage. Once you determine how much your items are worth, you can now decide if you need additional coverage. It may be useful to increase your policy limits to cover more valuable items or get a separate policy for certain items such as jewelry or artwork.
  • The Best Deductible For You. A deductible is how much you pay before your insurer starts paying for a covered incident. A higher deductible plan means your payments will be cheaper, but you’ll have to pay more out of pocket in the event of a claim.
  • Bundling Options. Most insurers give discounts as an incentive for having more than one policy with them. Talk to us to see what bundling options are available to you.

Securing Your Coverage with Renters Insurance

Deciding on the amount of renters insurance coverage you need can be a bit tricky. Our agents are here to guide you through the process and make sure you’re confident in your coverage. To request a free quote from one of our team members, give us a call at 704-510-8884 or shoot us an email at

Tip: Don’t forget to check out our renters’ insurance calculator to get a better understanding of your coverage needs!

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