A typical renters insurance policy provides three types of coverage: personal property coverage, renters liability insurance, and additional living expenses. Different insurance companies sometimes give different names to these coverage types, but in general, they all function the same way.
Personal property or personal belongings coverage is what most people think of when it comes to renters insurance. Personal belongings include things like furniture, clothing and shoes, electronics and devices, appliances and kitchen equipment, home goods such as bedding and towels, and most sports and hobby equipment such as bicycles and musical instruments. Certain personal belongings may be excluded from a standard policy if they’re above a certain value, such as jewelry, artwork, collectibles, and specialized computer or hobby equipment.