Renters coverage applies to your personal property no matter where you are in the world. You're covered when you are on vacation as well as at home. These are two ways to calculate how much the insurance company will pay if you report a loss. Standard renters policies cover the actual cash value of personal property. Payments are based on the replacement cost of the property minus a deduction for physical depreciation and obsolescence.
Owners carry property insurance for protection in case the apartments are damaged.
But if a negligent tenant causes damage, the owner's insurer will sue the tenant for the amount of damage caused. So being covered is a good idea. Endorsements are optional changes to your main renters policy. They can cover perils or property not covered by the standard policy. The standard renters policy does not cover earthquake losses.