Calculator inputs
Example data table
| Scenario | Gross loss | Deductible | Basis | Depreciation | Coverage limit | Estimated insurer payout |
|---|---|---|---|---|---|---|
| Small theft | $1,200 | $500 | ACV | 10% | $10,000 | About $580 |
| Water damage | $6,000 | $1,000 | Replacement | 20% | $20,000 | About $4,000 now; more after receipts |
| Jewelry loss | $4,000 | $500 | Replacement | 15% | $30,000 | Often limited by a special sub-limit |
Formula used
1) Covered loss before payout basis
Covered Loss = (Gross Loss + Additional Expenses) − Non-covered Amount − Other Recoveries
2) Payout basis
ACV = Covered Loss × (1 − Depreciation%) | Replacement = Covered Loss
3) Apply limits
Limited Loss = min(Payout Basis Loss, Coverage Limit, Special Limit)
4) Deductible
Flat: Deductible = Deductible Value
Percent: Deductible = Base × Percent, then apply Min/Max if provided
5) Eligible payout and insurer payout
Eligible = max(0, Limited Loss − Deductible) (or apply deductible before limits if selected)
Insurer Payout = max(0, Eligible − Prior Payments)
How to use this calculator
- Choose your claim type and payout basis (ACV or replacement).
- Enter the gross loss and any additional covered expenses you expect.
- Add amounts you believe are excluded and any refunds or recoveries.
- Enter your coverage limit and any special sub-limit, if applicable.
- Set the deductible type and value. Add min/max if your policy uses them.
- If you already received an advance, enter it as prior payments.
- Click Calculate to see payouts, holdback, and out-of-pocket estimates.
Insights for renters claim estimates
Why deductibles change claim outcomes
A deductible is the portion you pay before coverage responds. If your covered loss is $1,200 and your deductible is $500, the maximum insurer share starts near $700, before limits and adjustments. Many renters policies use common deductibles from $250 to $2,000, so small claims can become mostly out-of-pocket. Higher deductibles often reduce premiums, but raise cash needs.
ACV versus replacement timing
Actual cash value (ACV) reduces payment for depreciation. At 20% depreciation, a $5,000 covered loss becomes about $4,000 on an ACV basis. Replacement cost can restore the full $5,000, but many claims pay the ACV amount first, then release a holdback after receipts or repairs. Track deadlines for submitting proof of replacement purchases.
Limits and special sub-limits
Coverage limits cap what can be paid, even if the loss is higher. For example, a $4,000 jewelry loss may face a $1,500 special limit, shrinking the covered amount before the deductible is applied. This calculator lets you model a main limit and an optional special limit to reflect category caps. Electronics, bicycles, and cash may have separate caps too.
Using the calculator for decisions
Enter your estimated gross loss and any extra covered expenses, then subtract excluded costs and expected recoveries. Choose the payout basis and a realistic depreciation rate, such as 10% for newer items or 30% for older items. Compare “deductible before limits” versus “after limits” if your policy wording is unclear. Add prior payments to avoid double counting advances. For planning, test several gross loss estimates to see when the deductible becomes meaningful.
Interpreting results and next steps
Focus on three outputs: deductible applied, insurer payout, and estimated out-of-pocket. If the out-of-pocket amount approaches the deductible plus exclusions, filing may not be worthwhile. Save the CSV or PDF for documentation, then confirm details with your declarations page and adjuster. Keep photos, receipts, and serial numbers to support valuation.
FAQs
It assumes coverage and special limits cap the loss first, then the deductible is subtracted. Some policies apply the deductible to the limited amount, while others apply it earlier. Use the option that matches your policy wording.
With replacement cost, insurers often pay ACV first and hold back depreciation until you repair or replace items. “Payout now” estimates the initial ACV-based payment, while “payout total” estimates the maximum after acceptable receipts.
Use a realistic estimate based on age and condition. Newer items might be 5–15%, mid-life goods 15–30%, and older items higher. If you are unsure, test multiple percentages to see how sensitive ACV payout is.
Many renters liability coverages do not apply a deductible, but policy language varies. The calculator treats liability as zero deductible to avoid misleading estimates. Always confirm your exact terms on the declarations page and endorsements.
Special limits are category caps for items like jewelry, cash, or electronics. If your claim includes a capped category, enter that sub-limit to see how it can reduce the covered loss before the deductible and payout.
Not always. If the insurer payout is close to the deductible, exclusions, and limit reductions, the net benefit may be small. Consider your cash needs, documentation quality, and potential premium impact before filing.