That's the amount of cash you pay of pocket before your coverage starts. The greater your deductible, the lower your premium. Actual cash worth renters insurance will pay you the value of possessions at the time of a claim, not the cost you spent for them or the cost it would cost to replace them. Replacement expense occupants insurance covers the expense of fixing or replacing the product at the time of the claim. Replacement cost tenants insurance pays a lot more if you require to file a claim, but it also costs more. Get an occupants insurance quote without the confusion.