Does an apartment dweller need renter's insurance to protect his or her possessions, or is that the responsibility of the landlord?Although landlords are required to have insurance on their buildings, renters don't realize that the landlord's policy doesn't cover any of their personal property. Without renter insurance, you've got no coverage for personal property loss or damage. Consider what would happen to your belongings if: Your apartment building burned down; a thief broke into your apartment and took everything; a guest slipped and injured himself in your kitchen; or the home you're renting suffered water damage.It is estimated that 30 to 60 percent of all apartment renters nationwide have no insurance to cover their personal property, industry experts say."Many renters don't purchase insurance coverage because they think the building owner's insurance policy covers them," said Judy Roettig, executive director of the Chicagoland Apartment Assn., which represents 2,500 apartment professionals owning/managing 36,000 apartments in the Chicago area.Experts say more renters would buy insurance if they asked themselves one question: How much would it cost to start over again if all their personal property were destroyed by a fire or stolen in a burglary?A rental insurance policy covers personal belongings and household contents -- including furniture, appliances and clothing -- against loss. Renter's insurance also protects against personal liability claims, including medical expenses and legal expenses, as well as against claims made for damage caused by you to someone else's property."The best way to estimate how much coverage you should have is to list every insurable item in your apartment, then estimate the value of each item," Roettig said. "You'll want to take a policy that will cover the total cost of replacing the items."Insurance experts say all apartment renters should be familiar with the basic tenants policy. Typically, a renter's policy covers the following perils:- Fire, lightning, windstorm, hail, explosion, vehicles, smoke, vandalism and theft.- Falling objects, weight of snow, building collapse and overflow of water from appliance for heating water.- Frozen plumbing, appliances, heating or air-conditioning systems and damage from artificially generated electrical currents.