What Types Of Renters Insurance Are There? 
In New York there are few variations in the renters policy . The basic policy covers Personal Property , Additional Living Expense , Medical Payments , and Personal Liability . Many insurance carriers use their own policy forms and endorsements . A reputable agent or broker will have a specimen policy available and can outline the various coverages . Your Personal Property can be covered for Actual Cash Value or Replacement Cost . A good insurance representative can explain the difference in terms you can understand . The standard renters policy provides ` named perils ' on your personal property . ` Open perils ' commonly known as ` all risk ' is also available for more premium . Deductibles for the property coverage start at $ 100 or $ 250 and go up from there . The higher the deductible , the more the savings in premium . Many landlords require their tenants carry renters insurance and provide evidence of it - so if this is your situation , find out what the requirements are . Most insurance carriers in NY will not add the landlord as an ` additional insured ' under the personalliability section . Sometimes landlords request this in the rental agreement . Usually , a copy of the declarations page will satisfy the landlord . 