How much personal property coverage do I need on my renters policy?

Start by walking through your unit and estimating replacement cost for everything you own. Electronics, furniture, clothing, bedding, and kitchen equipment add up faster than most renters expect. $30,000 to $50,000 is a reasonable starting point for most furnished one or two bedroom apartments. The premium difference between $20,000 and $50,000 in coverage is typically $5 to $10 per month. Underinsuring personal property is the most common renters insurance mistake.