5) You may have better peace of mind with you property insured. If you live in an area where such things occur, then you'll need a separate policy if you want coverage. Renters insurance covers your possessions against losses from fire, lightning, theft, vandalism, explosions, wind and water damage (excluding floods). You can also reduce your premium by paying a higher deductible. You will also want to update the list once a year to add any new purchases you may have made and keeping your receipts is a good idea. In fact, you may even want to get estimates on various items, especially antiques and the like. 1) Renters face a number of risks for their personal property including fire, theft, vandalism, hurricanes, and more. One of the first things you should do before you start looking for an insurance policy is to take a full inventory of everything you own. This pays what new goods would cost if you have a covered loss. You will often save by getting a renters policy from the same company as your auto insurance company. What does it cover? Renters insurance covers a number of incidents and will protect you in the event of the sudden loss of your valuables. Additionally, if you live in a coastal region where hurricanes may be particularly destructive, extra coverage might be required for windstorm damage. If you own an apartment you should well consider purchasing renters insurance. Insurance is created for the "what if" events in your life and if you encounter problems, the last thing you want is to be caught off guard. If you are interested in a renters policy a good place to start would be calling the company that has your auto insurance. Unless you have a ridiculous amount of belongings, the most basic insurance should cover you. The fire doesnt even have to originate from within your apartment. Liability coverage may also be included in a renter’s policy. If you own an apartment you should well consider purchasing renters insurance. You pay a small amount per month, and in return the insurance company offers to pay you X number of dollars if your apartment is destroyed. You may want to shop a couple reputable places to compare coverages and price. The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on how to get discount renters insurance quotes. These days, most companies offer reduced premiums if you install smoke and fire detectors, burglar alarms, and fire extinguishers on your property. If you are interested in a renters policy a good place to start would be calling the company that has your auto insurance. This may be slightly discounted because I get my auto insurance through them as well. It is very unfortunate when renters have losses without insurance protection. * Buy your renters insurance and auto insurance from the same company. In the Houston area $10,000 of renters insurance typically costs $12 to $16 per month. As an insurance agent I find that this is coverage that many customers overlook. If the property you are renting becomes uninhabitable due to these types of damage, your renter's insurance will cover your displacement costs.