Does Renters Insurance Cover Everything I Own? 
Everything you own is a very vague statement . Insurance companies insure described property against loss from covered perils . If the property that you have in mind is described in the policy and the loss is the result of a covered peril then file a claim . Your claim will be adjusted by the deductible . Most renters policies have a significantly lower limit for property that is not on premises . For example if you lose your wallet on campus , the adjusted claim can not exceed a percentage of your total coverage -LRB- normally 10 % . -RRB- As was mentioned there are internal limits for jewelry , firearms , money and other high value items . In the end you might own something that the policy will not cover . What is more important is to consider the items that the policy will cover . If you can not afford to lose them , consider insuring them . 