I just learned about renters insurance. What are some things I should consider before picking an insurance policy for my Orlando apartment?

4x4: Fully Furnished Living Room with 42" Flat Screen TV, Leather Couch, Arm Chair, Coffee Table, Entertainment Stand and End TableApartments at The Lofts come with alarm systems. You will be able to sleep soundly knowing you and your personal belongings are protected.

Some Orlando apartments will require you to have a renters insurance policy. If you are just learning about this or still uncertain about it, don't worry we have you covered! While not all apartment communities will require you to have this, it is a great option. Your rental company may have an insurance policy, but it does not extend to you and your personal belongings. By the time you are done reading you will know the ins and outs of renters insurance and whether or not it is a good fit for you!

Keep in mind, we're the local experts on renting apartments in Orlando and we're always happy to share our knowledge, but your personal insurance company should always be the source you trust on any questions regarding your coverage.

How much does renters insurance cost?

Believe it or not, renters insurance can be surprisingly cheap. Some policies can be as low as $15 a month. Costs can vary from company to company. Like most insurance policies, the less you have to cover, the cheaper your policy will be. The amount you pay per month depends on a few different factors; the coverage you select, how much coverage you purchase and the deductible you choose. If you are not familiar with a deductible, the higher the amount you choose means the less you pay out of pocket. This also means the cost you have to cover is increased. There are many options for furnished Orlando apartments. Living in one of these apartments means you could choose to only insure electronics, such as a laptop and other personal items of value. Don't forget to check and see if your car insurance company offers renters insurance. Sometimes they are able to bundle your monthly payment.

Why should I have renters insurance?

There are just too many things that are out of our control. Having a renters insurance policy can come in handy in the event that someone breaks into your apartment. Your policy will cover items that have been stolen or damaged. Living in an Orlando apartment community that offers gate guards, courtesy officers or an alarm system can help to prevent a break in from happening. Florida has its own risks, hurricanes. Not to mention the summer thunderstorms that seem to pop up out of nowhere. Having your apartment insured protects you from damages that storms may cause. No one can plan for an accident to happen, but if one does happen and your personal belongings are damaged, your policy will have you covered. Unfortunately, if flooding does occur, your renters policy will not cover the damages. In almost all cases, flood insurance will have to be purchased as a separate policy.

What is covered and not covered by my policy?

When you purchase your policy, several things are included: personal property, personal liability and medical coverage for other individuals. As you would imagine person property covers such things as electronics, clothing and furniture. Some plans exclude personal liability, so make sure you know what you are paying for. If your plan does include it, which most plans do, it means you will be covered in the event of a non-auto related accident in which you are held reliable for. Accidents can and will happen. If you still have questions or want to further explore the options of renters insurance, check out this Allstate article.

These are the opinions of writers and not the opinions of 407apartments.com or any of our advertising partners.