How Much Renters Insurance Coverage Do I Want?

To figure out how much Renters Insurance you may want, you’ll want to take a close look at:

  1. The value of your personal possessions
  2. Your assets

Consider the following when selecting Renters insurance coverage for you:

  1. 1

    Estimate a dollar amount for your belongings

    Renters insurance can help replace your personal belongings if they’re ever stolen, damaged, or destroyed as a result of a covered loss. To determine an approximate value of your personal property, and help figure out what coverage limits to choose, start by taking a home inventory.

    Grab a pen and paper, and make a list of all your personal possessions (your home’s contents, like clothing, furniture, small appliances, electronics, etc.,) and then assign a monetary value to each. You can estimate, or use receipts if you saved them.

    Sometimes, people make the mistake of underestimating the value of their personal property. Considering the number of new things we purchase each year, it’s easy to forget to identify all your belongings, or keep your insurance up-to-date. With Farmers though, you can periodically review your Renters insurance with a Farmers agent to help determine whether your valuables and personal items are covered the way you want.

  2. 2

    Cover your assets

    What if someone were injured in your home? What if your dog bites someone? Covering your assets means safeguarding your possessions and your financial investments, in the case of an accident where you may be liable.

    The amount of Liability coverage you may want to purchase depends on the value of your possessions and your net worth, as well as your living situation (roommates, pets, additional risk factors, etc.). A Farmers agent can help you determine the amount of Liability coverage you may want to purchase, to help mitigate your financial exposure if you’re ever sued.

If you want to learn more about Renters insurance coverage options with Farmers, you can speak directly with an agent. Contact a Farmers agent today to discuss coverage options for your particular circumstances.

This brief summary is not a policy document. Please read the actual policy documents for your state for important details on coverages, exclusions, limits, conditions and terms. If there is any conflict between this summary and the policy documents, the policy documents will control. Not all products and discounts are available in every state.

New York, Texas and Washington:

Insurance is underwritten by Farmers Insurance Exchange or an affiliated insurance company. Visit for a complete listing of companies. In New York, Renters insurance is underwritten by Truck Insurance Exchange. In Texas, Renters insurance is underwritten by Fire Insurance Exchange. In Washington, Renters insurance is underwritten by Farmers Insurance Exchange and Farmers Insurance Company of Washington. Each insuring entity has sole financial responsibility for its own products. This is not a policy but a general description and is not an offer to insure. All coverages are subject to the terms, provisions, exclusions, and conditions in the policy itself and any endorsements. Not all coverages and discounts are available in all states. Limitations may apply. Please note that if you are already insured with Farmers Insurance, contact your Farmers agent for a review of your policy(ies).