Renter's Insurance Coverage will give you coverage for all of your personal belongings. So if something gets stolen, if something gets burned up in a fire, whatever, you have coverage for. A lot of folks, especially those who live in an apartment think that if the apartment burns down, then the apartment complex gives them money. They don't. The apartment company or the apartment complex has insurance for their building, but all of your personal contents are not covered. It is a good idea to purchase coverage for that. It's extremely inexpensive and it gives you good coverage. The other thing that it does is it gives you liability coverage. So if somebody comes to your apartment, trips over your couch and breaks their arm and sues you for it, then the insurance company would defend you in court and pay any claims that came out of it. If something happens in the apartment and the apartment company sues you and you are held liable, then your Renter's insurance would cover that as well. A good example of that is bathtub floods. It was your fault because you left the plug in. You left the water running, and you are on the third floor. Now you have got water damage to the apartments below you and all that kind of stuff. They are coming after you for money, and if you got Renter's insurance with a water damage coverage rider on it, then the insurance company would pay for it.
