cheap, cheap, cheap
Basically all you have to do is add up the values of everything you own, give that dollar amount to the insurance agent, and they'll insure you up to that amount should anything go wrong. Clothes, computer, bed frame, mattress, sheets, lamps, baseball cards, CDs, etc. You'd be surprised at how much "stuff" you've got.
You might be saying, I can't afford $100. But really, can you afford not to have renter's insurance? Scrape up the $8 per month and avoid living on the edge.
more to it
When you sign up for renter's insurance, you'll also get personal liability coverage. This kind of insurance saves you from being sued if someone hurts themselves on your property, or if there are any accidents or damaged property.
replacement cost coverage
You might want to fork over a few extra bucks to have something called replacement cost coverage.
This means you'd receive money to buy replacement items at today's costs. Not the depreciated value. So, that wardrobe of shirts you paid more than 30 bucks a piece would be valued at more like 6 bucks a shirt when you got reimbursed.
If you had replacement cost coverage, you'd get whatever it cost you to go out and buy the same types of shirts, whether they're 30 bucks or even 40 bucks. Replacement cost coverage will not increase your overall premium by very much either. So it's worth it.
cheap, simple and worth it
Think about it, could you really afford to replace your clothes?Your furniture? What about that sweet Plasma TV and surround sound system?
It can be very expensive to start over with replacements. Your landlord's insurance policy only covers the building structure itself. It doesn't cover your belongings or provide you with personal liability protection.
So when your kitchen does go up in flames - or perhaps your whole block - you'll be one of the few who will get a fat check to go replace everything you owned.