Renters insurance, often referred to as apartment insurance, is designed to protect your personal belongings such as computers, TVs, electronics, bicycles, furniture, and clothing, not just inside but also outside your rented apartment or home. This coverage remarkably extends to personal items in your car. Typically, renters insurance safeguards against losses to your personal property resulting from fire, smoke damage, sudden and accidental water damage covered by the policy, as well as thefts, burglaries, vandalism, or damage from vehicles.