That's the amount of cash you pay out of pocket prior to your coverage begins. The higher your deductible, the lower your premium. Real cash value renters insurance coverage will pay you the value of personal belongings at the time of a claim, not the price you spent for them or the price it would cost to replace them. Replacement cost tenants insurance covers the expense of repairing or changing the product at the time of the claim. Replacement expense occupants insurance coverage pays out a lot more if you require to sue, but it also costs more. Get a renters insurance quote without the confusion.