Courtesy of iii.org If you rent a house or apartment and experience a fire or other disaster, your landlord’s insurance will only cover the costs of repairing the building. To financially protect yourself you will need to buy renters or tenants insurance. Renters insurance protections Like homeowners insurance, renters insurance includes three key types of financial protection: Coverage for personal possessions Liability protection Additional living expenses (ALE) The big difference is that renters insurance doesn't cover the building or structure of the apartmentthat's the landlord's responsibility. The following questions will help you choose the right coverage when you are shopping around for renters insurance or discussing your needs with an insurance professional. Coverage for personal possessions Coverage for your personal property is a key component of renters coverage, protecting you from theft, fire and a host of other unfortunate events. 1. …