As mentioned, one of the biggest reasons to get renters insurance is to protect your personal belongings from fire, theft, vandalism, smoke damage, and more. This includes items in your car as well as items you bring with you while you travel. Items such as clothing, electronics, and furniture, and appliances that didn't come with the apartment all fall under your $100,000 renters insurance. However, you will only be compensated for each item or type of item up to the limit detailed in your policy. Furthermore, for high-value items like jewelry that can easily exceed these thresholds, you may have to purchase additional coverage. There are two main types of personal property coverage: actual cash value (reimburses for the current value of your item) and replacement cost (covers the cost of replacement after the deductible is paid).