If you rent a house, apartment or a condominium, you should  purchase a renters insurance policy on your belongings. The landlord’s insurance covers damage to the building but not your possessions.

Also, most renters policies include personal liability coverage in case someone is injured due to negligence on the landlord’s property.

All homeowners or renters policies include a deductible. The deducible is the amount you will be responsible for paying for a covered loss before the insurance company begins to pay. When purchasing a policy, you should pick a deductible that fits your budget.

     

Your premium will depend on the insurance company, where you live, the deductible you choose, if claims will be paid on an ACV or RCV basis and any additional coverages you purchase. Be sure to ask about any discounts including but not limited to dead bolt locks, burglar alarm systems, and  smoke alarms.

Source: Kentucky Public Protection Cabinet/ Department of Insurance