Professional services
Renters Insurance Calculator
Works renters insurance cost, where the liability cover is often worth more than the contents.
Result
An estimating tool, not insurance advice and not a quote. Underwriting sets real premiums on factors no calculator sees. What cover is appropriate is a question for a licensed broker. The landlord's policy covers the building, never your possessions or your liability. Most people underestimate what replacing everything would cost: walking room by room adding up clothing, electronics, kitchen contents and furniture usually produces a figure well above the first guess. High value items such as jewellery and instruments have sub-limits and need scheduling separately.
Get a Free Business AuditHow the calculation works
Contents coverage at the rate for location and construction, with liability cover and loss of use, and the deductible chosen, giving annual and monthly cost. The landlord's policy covers the building and not the tenant's belongings or the tenant's liability, which is the gap this fills.
What moves the number
- Value of belongings at replacement cost.
- Liability limit chosen.
- Loss of use cover for temporary accommodation.
- Settlement basis on contents.
Where this one goes wrong
Most renters underestimate their belongings substantially, because the total of clothing, electronics, furniture and kitchen contents is far higher than any single item suggests. A room by room list resolves it in an afternoon and is also what supports a claim. The liability element is the underappreciated half: a tenant who causes water damage to other units can face a claim far exceeding the value of everything they own, and that is what the liability limit addresses.
Before you quote
- Inventory belongings room by room rather than estimating.
- Choose a liability limit against the damage you could cause, not your assets.
- Check whether contents settle at replacement cost or actual cash value.
Where the rules come from
Questions
About this calculator
Does the landlord's insurance cover my belongings?
No. The landlord's policy covers the building, not the tenant's possessions or the tenant's liability. That gap is what renters insurance fills, and it is usually inexpensive relative to what it protects.
How much contents cover do I need?
More than most people estimate, because the total of clothing, electronics, furniture and kitchen contents exceeds what any single item suggests. A room by room inventory settles it in an afternoon and also supports a claim if one is needed.
Why does liability matter for a renter?
Because a tenant who causes water or fire damage to other units can face a claim far exceeding the value of everything they own. That exposure, rather than the contents, is frequently the most valuable part of the policy.
The formula
premium = contents value / 1000 x rate x cover type factor + liability, less deductible credit
Put this calculator on your site
Free to embed. Paste this where you want it to appear. It stays up to date automatically because it loads from BDEVY.
Please keep the attribution line. It is the only thing we ask in return.
How to use this calculator
- Value of your possessions ($). Enter your own figure; the page starts at $30,000.
- Liability limit ($). Enter your own figure; the page starts at $100,000.
- Deductible ($). Enter your own figure; the page starts at $500.
- Cover type. Enter your own figure; the page starts at Replacement cost (1.25x).
- Rate per $1,000 of contents. Enter your own figure; the page starts at 4.2.
The result updates as you type, so you can try a figure, see what it does to estimated annual premium, and change it back. Nothing you enter is sent anywhere or saved.
A worked example
These are the figures the calculator opens with. Every number in the results column below is produced by the same calculation the page runs, so you can follow it through before putting your own figures in.
What goes in
| Input | Value |
|---|---|
| Value of your possessions | $30,000 |
| Liability limit | $100,000 |
| Deductible | $500 |
| Cover type | Replacement cost (1.25x) |
| Rate per $1,000 of contents | 4.2 |
What comes out
| Result | Value |
|---|---|
| Estimated annual premium main result | $164.76 |
| Per month | $13.73 |
| Contents cover | $30,000 |
| Additional living expenses | $9,000 |
| Cost per day | $0.45 |
About $13.73 a month, which is $0.45 a day, for $30,000 of contents cover plus liability. It is usually the cheapest insurance anyone buys relative to what it does.
How sensitive the answer is
Holding everything else steady and changing only value of your possessions, this is what happens to estimated annual premium. It is worth knowing which of your inputs the answer actually hinges on, and which barely move it.
| Value of your possessions ($) | Estimated annual premium |
|---|---|
| $15,000 | $100 |
| $22,500 | $126.57 |
| $30,000 example above | $164.76 |
| $45,000 | $241.14 |
| $60,000 | $317.52 |
Every other input is held at the example value while this one changes, which is not how a real job behaves. Treat it as a guide to which number matters most, not as five separate quotes.
What each figure means
- Value of your possessions ($)
- A money amount, starting at $30,000.
- Liability limit ($)
- A money amount, starting at $100,000.
- Deductible ($)
- A money amount, starting at $500.
- Cover type
- Choose from Replacement cost (1.25x), Actual cash value (1.0x).
- Rate per $1,000 of contents
- A number, between 0 and 20, starting at 4.2.
What the results tell you
| Result | What it is |
|---|---|
| Estimated annual premium | The headline result. A money figure. |
| Per month | A money figure. |
| Contents cover | A money figure. |
| Additional living expenses | A money figure. |
| Cost per day | A money figure. |
Keep going
Related calculators
Estimating is the easy part
The jobs you never hear about cost more than the ones you mis-measure. BDEVY builds the marketing, systems and automation that bring them in.