That's the amount of cash you pay out of pocket before your protection starts. The higher your deductible, the lower your premium. Actual money worth renters insurance will pay you the worth of belongings at the time of a claim, not the rate you paid for them or the rate it would cost to replace them. Replacement expense renters insurance coverage covers the cost of repairing or replacing the product at the time of the claim. Replacement expense occupants insurance pays out a lot more if you need to file a claim, but it also costs more. Get a tenants insurance coverage quote without the confusion.