HOME & PROPERTY

Do I Need Renters Insurance?

The cost of renters insurance and the amount of personal property coverage you need depends on how much your property is worth.

To Better Understand Your Renters Insurance Coverage Needs, Ask Yourself:

  • How much are my belongings worth?
  • Could I afford to buy it all back again if it were destroyed in a fire or stolen?
  • What would I do in the event of a liability lawsuit against me?

Remember, if you have ever asked yourself "Do I need renters insurance?" the answer is probably yes.

Get a Renters Quote

Did You Know?

Most people's belongings are worth more than they realize. And the average cost of renters insurance is quite affordable.

Based on State Farm® experience, the average person has over $35,000 worth of belongings that are probably not covered by a landlord's policy.

Find Out How Much Renters Insurance Coverage You Need

Take an Inventory of Your Possessions:

  1. List each item, when you acquired it and the purchase price or current value.
  2. Total the amounts of these items for a rough idea of what your property is worth.
  3. Once this is done, put your inventory in a safe place away from home - for example, in a bank safe deposit box.
  4. Consider adding photos to your inventory - they can help if you have a claim.

You can also use our contents calculator to determine the amount of personal property coverage you need. This service is part of our online renter's insurance rate quote.

Coverage for certain types of property, such as those listed below, may have a dollar limit in a Renter's policy:

  • Money, bank notes, coins
  • Business property (on and off premises)
  • Securities, negotiable instruments
  • Watercraft, including trailers, furnishings and equipment
  • Trailers (other than boat trailers)
  • Jewelry and furs
  • Firearms (limitation applies to theft only)
  • Silverware and goldware (limitation applies to theft only)