If you live in an apartment or condominium, you will probably want renter's insurance. This will cover any personal property that is damaged by theft, fire, vandalism, explosion, or flooding. Renter and condominium insurance also protects against personal liability. For example, if someone slips on your stairs and sues you, the insurance company will pay for your legal defense and any settlement or jury verdict against you up to the limits of your policy. Most renter or condominium policies will cover up to a thousand dollars for jewelry, three-thousand to ten-thousand dollars on computers, and twenty-five hundred to ten-thousand dollars on silverware. Many insurance companies will also write policies allowing you to cover all items in the apartment or condominium even if they are owned by different people. There are also policies that allow you to cover any future resident who is considered a domestic partner. For more information on renters and condo owners, contact an insurance expert.
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