Choosing a personal property limit
How to estimate what your belongings would cost to replace and pick a limit that fits.
Most renters underestimate their belongings. Walk room to room and add up furniture, electronics, clothing, kitchen goods, tools, sports gear, and decor. Many households land between $20,000 and $40,000 even in a modest apartment.
Replacement cost coverage pays what it costs to buy a similar new item, while actual cash value subtracts depreciation. Replacement cost usually costs a little more but pays noticeably better after a loss.
Jewelry, watches, collectibles, firearms, and some electronics may have special sub-limits for theft. If you own items like these, scheduling them can raise the limit and sometimes remove the deductible for those items.
Take photos or a short video of each room and keep receipts for larger items in cloud storage. A simple inventory makes any claim faster.
Coverage at a glance
| Coverage | What it pays for | Typical choice |
|---|---|---|
| Personal property | Furniture, clothing, electronics, and other belongings after a covered loss, at home or away | Set to the replacement value of what you own |
| Personal liability | Injury or property damage you cause to others, plus legal defense | $100,000 minimum; $300,000+ common |
| Loss of use | Extra hotel, meal, and living costs while your rental is unlivable | Often a percentage of the property limit |
| Medical payments to others | A guest's minor medical bills, regardless of fault | Typically a few thousand dollars |
Commonly covered causes of loss
- Fire and smoke
- Lightning
- Windstorm and hail
- Explosion
- Theft
- Vandalism
- Sudden water discharge from plumbing or appliances
- Freezing of plumbing
- Weight of ice and snow
- Falling objects
- Damage by vehicles
- Riot or civil commotion
Commonly not covered
- Flood and rising surface water
- Earthquake and earth movement
- Bedbugs, rodents, and insects
- Wear, tear, and gradual leaks
- The building itself (your landlord's policy)
- Your car (an auto policy)
More guides
- What tenant insurance covers
- Liability coverage for renters
- Additional living expenses explained
- Proof of insurance for your lease
- Roommates and tenant insurance
- Protecting jewelry and valuables
- Picking a renters deductible
- What tenant insurance costs
- How to file a renters claim