Each carrier will different bells and whistles (us insurance nerds call them endorsments and policy forms) but in general a renters insuranc epolicy is going to cover your stuff (up to the policy limit) plus have liability coverage.
On renters insurance, we get the questions all the time on "How much coverage do I need"....Do a mental or actual physical inventory of all your stuff, calculate the values to replace and take a policy for that amount. Many carriers have minimum levels of coverage to get "Replacement cost coverage" YOU WANT THIS....You do not want a policy that is Actual Cash Value. If you don't think all your stuff adds up to that minimum amount for Replacement Cost Coverage, get a policy for that minimum anyway. You'll be glad you did if there was ever a claim.
The liability coverage is there in case someone gets hurt in or around the unit you are renting and their injuries were deemed your fault. This coverage can actually be more important than the contents coverage.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
There are two major elements to a renter’s insurance policy. The first major division is the loss or damage to personal property. This covers your property at the landlord’s location. This coverage is usually set at replacing the personal property with either new or used items. The second major division is liability where the company stands by you and defends you if you are sued because of an accident that occurs on the rented premises. There are additional coverages which may appear but these are the basics.
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On renters insurance, we get the questions all the time on "How much coverage do I need"....Do a mental or actual physical inventory of all your stuff, calculate the values to replace and take a policy for that amount. Many carriers have minimum levels of coverage to get "Replacement cost coverage" YOU WANT THIS....You do not want a policy that is Actual Cash Value. If you don't think all your stuff adds up to that minimum amount for Replacement Cost Coverage, get a policy for that minimum anyway. You'll be glad you did if there was ever a claim.
The liability coverage is there in case someone gets hurt in or around the unit you are renting and their injuries were deemed your fault. This coverage can actually be more important than the contents coverage.