What is a good amount for renters insurance?

+1 vote
asked Jan 24, 2019 in Real Estate - Renting by brianhc16 (480 points)
What is a good amount for renters insurance?

3 Answers

0 votes
answered Jan 24, 2019 by Avarado (27,970 points)
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.
0 votes
answered Jan 24, 2019 by marthale87 (400 points)
I had a $100,000 renters insurance policy which was the minimum the insurance company would allow me.

The $100,000 renters insurance policy was more than enough and I only paid $8.00 per month for the renters insurance policy but your costs could vary.

Shop around online for the best rate and you can usually save money bundling your renters insurance with your auto insurance if possible.
0 votes
answered Nov 7, 2023 by Gaperkins (7,580 points)
Renters insurance also known as tenant insurance can cover your belongings against common risks such as theft, fire, loss and much more.

It's an easy and affordable way to protect your investment in your personal property.

Coverage applies to your belongings that are both in your home and temporarily away, such as when you go on vacation.

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