The coverage for renters insurance should be a minimum of $50,000.00 but some renters insurance policies cover up to $100,000.00 which is the best amount.
Either the $50,000.00 or $100,000.00 coverage for renters insurance is usually more than enough coverage but you can get renters insurance to cover up to $300,000.00 but that's usually not needed.
You can typically get a Renters Insurance Policy for $8.00 per month to $12.00 per month so it's not that expensive but the cost of your monthly renters insurance will vary depending on the amount of coverage you get and your area as well as your credit score.