That's the quantity of cash you pay of pocket before your protection starts. The greater your deductible, the lower your premium. Real money value renters insurance will pay you the value of personal belongings at the time of a claim, not the rate you paid for them or the cost it would cost to change them. Replacement cost renters insurance coverage covers the expense of fixing or changing the product at the time of the claim. Replacement cost tenants insurance pays out a lot more if you need to file a claim, but it likewise costs more. Get a renters insurance quote without the confusion.