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Renters insurance is an insurance policy that protects apartment tenants from a variety of perils. Statistics says, more than fifty percent of renters in America are not covered under insurance. Renter’s insurance policy is important as the landlord’s insurance policy only extends to the building's common walkways and public areas.

Insurance laws of US vary from state to state and in turn, renter’s insurance policies vary from one company to other. However, a majority of the insurance companies advise that every renter should maintain a separate renter’s insurance policy to cover their personal belongings. Only few insurance companies allow multiple roommates under a single policy. If you and your roommates select this type of renter’s insurance policy to cover all of your collective possessions, each person's name has to be listed in the policy, and has to ensure that you have purchased enough insurance to cover everyone's property. In addition, you need to change the policy every time a roommate moves out or a new roommate moves in. Sometimes things become more complicated in the case of unmarried pair living together because each partner requires separate policy to cover their personal property. However, this is not an ideal solution if some unmarried couples have joint property. In this case, they should keep complete records of who actually purchased what, allowing making an exact claim if the need arises.

Generally, the renter’s insurance providers covers insure amount for the following list of losses:

•Fire or lightning
•Windstorm or hail
•Explosion
•Weight of ice, snow, or sleet
•Vehicles
•Smoke
•Vandalism or malicious mischief
•Theft
•Damage by glass or safety-glazing material