You’ll find that what’s covered by renters insurance is fairly standard:
Personal property: Your belongings, including furniture, jewelry and electronics, even pots and pans, are covered under the personal property section of your policy. It also covers your personal property if stolen or damaged when away from home.
Get replacement cost coverage for personal property so you’re reimbursed for the cost to replace your possessions with new items, as opposed to actual cash value coverage. With actual cash value coverage, you only get the depreciated value of your personal items.
Liability: Liability insurance pays for medical bills and property damage costs when you’re legally liable for accidental injuries and damage. Personal liability insurance will pay for your legal defense if you’re sued for a problem covered by the policy. For example, if your dog bites someone or a visitor slips and falls in your apartment, you could be sued for injuries.
Medical payments: Medical payments coverage pays for small medical bills for guests no matter who is at fault. Coverage amounts start at $1,000.
Additional living expenses: If you are no longer able to live in your apartment because it’s been damaged by a problem covered by the policy, such as a fire, you can make a claim for additional living expenses. Additional living expenses coverage can cover hotel bills, meals in restaurants and even pet boarding fees. Be sure to keep your receipts. You’ll need them for filing a claim.