Apartment renters need special insurance to protect their belongings.

This type of insurance covers your personal property at home and away form home. The policy insures your personal effects against 17 perils including:

 

• smoke
• fire
• lightening
• burglary
• vandalism
• riot or civil commotion
• explosion or electrical surge damage
• windstorm or hail
• falling objects and other similar hazards.

 

You’ll also receive financial protection against claims or suits brought by others for accidental bodily injury or property damage suffered while in your apartment. The policy covers all members of your family and your pets. If an accident with Fido leads to a lawsuit, you’ll be covered by your Renters insurance. Keep in mind, some insurance companies are skittish about writing policies for owners of certain ferocious breeds such as Rottweilers, pit bulls and Doberman Pinschers. You might be able to save some money on your premiums if you haven’t had any claims in the past three years, if you home has smoke detectors or fire extinguishers, if the home is less the 10 years old, if you’ve installed a burglar alarm or deadbolts, or even if you’re a senior citizen. This policy provides exactly the same coverage, as homeowner with the exception there is no coverage for a building. Be sure to ask about any other discounts when you’re getting a quote.