Renters Coverage Check

Step by step

1. When you enter a personal-property limit, your belongings are compared directly against it.
2. When you do not, the belongings figure you entered stands in as the limit, so the comparison is neutral rather than invented.
3. Replacement-cost settlement illustrates the smaller of your belongings and the limit. Actual cash value applies an illustrative 40% depreciation to your belongings, then caps the result at the limit.
4. Loss of use is illustrated at 20% of the personal-property limit, then divided by your full monthly rent to express it in months — a simple yardstick, not a claim model. The Loss of Use Runway tool for homeowners divides by the reimbursable increase in living costs instead, so its month figure is built differently.
5. Each category you tick maps to its typical per-category sub-limit, which applies regardless of the overall limit. Categories marked carrier-specific are not standard-form special limits; their figures are illustrative.

The formula

RCV settlement = min(belongings, limit). ACV settlement = min(limit, belongings × (1 − depreciation)). Loss of use = limit × 20%. Months = loss of use ÷ full monthly rent.

Assumptions and their default values

Some of these change with the state you select.

Important disclosures

1. This tool is educational only. It illustrates potential exposure using the assumptions shown — it is not insurance advice, a price, or an offer of coverage, and it does not determine whether any coverage amount is right for you. Policy language varies; review your actual policy and discuss your situation with a licensed insurance professional.
2. Sub-limits are illustrative figures typical of standard renters forms. Categories marked carrier-specific are not standard-form limits at all. Your own policy may differ, and scheduling an item changes how it is treated entirely.
3. The depreciation applied to an actual-cash-value settlement is a broad illustration. Real depreciation depends on the age and condition of each item, assessed at claim time.
4. Liability and loss-of-use coverage vary considerably between renters policies, including whether damage you cause to the building itself is covered and for how long alternative accommodation is paid.