Q. I rent an apartment. Who covers the damage of my belongings if a hurricane damages the property?

This may come as a shock to you, but most landlord tenant leases do not protect your personal property in the event of a hurricane.  It is a common misperception among renters that they are covered by their landlord's insurance. Your landlord's insurance is not going to protect your personal property - it only protects the building.

So, how can you protect your clothes, jewelry, stereos, televisions, bicycles, computers, furniture, artwork and other valuable possessions?

It is a very good idea for you to buy renters insurance.  This policy will pay you if your personal property is damaged or stolen.  Renters insurance can cover fire and smoke damage, theft, vandalism, damage from windstorms and hail, damage from explosions, water damage from plumbing problems, and many other hazards. It also protects you from liability if an accident happens in your home and may pay your temporary living expenses if an emergency forces you to leave your home.

You must consider the following to make sure you select a renter's insurance policy that's right for you. First, all insurance policies have a deductible - the lower the deductible, the higher the insurance premium.  Although you can lower your premium by having a higher deductible, make sure that you can afford the deductible if a disaster strikes. Second, insurance policies have exclusions that you need to know about.  Make sure that the disclaimers do not jeopardize your claim.  If the renter's insurance does not cover floods, you may have to buy a separate policy to protect you.

How much you must pay for the policy will depend on the amount of coverage.  Add up the cost of everything you would want to replace if it were damaged. This inventory will also help you if you need to file a claim.  Write down the model numbers, dates and places of purchase. Take photographs or make a video of these items and place a copy of the inventory in safe place away form your home.

There are two types of renter's policies. Cash value coverage takes into account the age and condition of items at the time of damage or loss. You would be reimbursed for the value of the item minus depreciation. Replacement value pays the cost of buying an item of similar kind or quality today. The price of replacement cost coverage is about 10 percent more but is well worth the extra cost.

Sometimes insurance companies offer discounts on renters insurance if you have another policy with them for your car or business. You can also get discounts if your apartment has a security system, smoke detectors, or deadbolt locks. Ask the company what other discounts might be available.

It's very important for you to protect your personal property.  For a small commitment, you may get a big benefit.