Renters insurance is the most affordable, most overlooked protection in personal lines. For roughly $12–$25 a month, it replaces your belongings after theft, fire, or water damage, covers your liability if someone is hurt in your unit, and pays for a place to stay if your rental becomes uninhabitable. Your landlord's policy covers the building — never your things. Whether you're renting an apartment in Seattle, a townhome in Bellingham, or a condo in Miami, a renters policy is the cheapest peace of mind you can buy.
What renters insurance covers
| Coverage | What it does | Typical limit |
|---|---|---|
| Personal property | Replaces belongings after a covered loss | $15k–$50k (your choice) |
| Liability | Legal & medical costs if you injure someone or damage property | $100k–$300k |
| Loss of use | Hotel & extra costs if your unit is unlivable | 20–30% of property limit |
| Medical payments | Minor guest injuries regardless of fault | $1k–$5k |
| Scheduled items | Extra coverage for jewelry, bikes, electronics | Added by endorsement |
What renters insurance costs in WA and FL
Renters insurance is inexpensive in both states. Florida runs a little higher than Washington because of storm exposure, but both are among the best values in insurance.
Estimated average renters premium (2025)
Replacement cost vs. actual cash value
Always choose replacement cost coverage. Actual cash value pays what your five-year-old TV is worth today (very little); replacement cost pays what it costs to buy a new equivalent. The premium difference is small and the claim difference is enormous.
Ways to save on renters insurance
- Bundle with your auto policy — the multi-policy discount often offsets most of the renters premium.
- Choose a sensible deductible — $500 is standard; $1,000 lowers your premium.
- Add protective-device credits for alarms and smoke detectors.
- Schedule high-value items instead of buying a higher blanket limit.
Why buy renters insurance through Maru
Because renters insurance is cheap, most people buy the first policy they see. But coverage limits, replacement-cost terms, and liability protection vary between carriers. We make sure your policy actually covers what you own and pairs cleanly with your auto policy for the biggest discount — all in a five-minute conversation.
Frequently asked questions
Is renters insurance required?
How much renters insurance do I need?
Does renters insurance cover my roommate?
Does renters insurance cover flood damage?
Licensed independent insurance agent · WA & FL
Written and reviewed by a licensed Maru advisor. Maru Insurance is an independent agency (License #22261820) representing multiple A-rated carriers across Washington and Florida.
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