How Much Should I Spend On Renters Insurance? 
A basic Renter-type policy should cost you about $ 150-200 per year . A basic policy would include a nominal amount of coverage on your personal property -LRB- $ 15,000 or so -RRB- , cover you for specific named perils such as fire , theft , wind , vandalism , etc. and provide coverage for the additional cost of living in temporary quarters should your building be damaged by an insured peril and become unfit for living . In addition , it would be common for this type of policy to provide a nominal -LRB- $ 100,000 -RRB- amount of personal liability coverage . Although not included in most basic policies , I 'd suggest `` Replacement Cost '' coverage be requested . Should your property be damaged , instead of paying you the depreciated value of the property , you could claim the full cost for its repair or replacement . Very important in a serious claim ! Of course , higher limits and additional coverages should be available for an additional charge . 