Ask your auto insurance provider about extending coverage

Cheap renters insurance is often available from your auto insurance provider if they also offer renters insurance.

I recommend: Ask the company that provides insurance for your vehicle if they also offer renters insurance for better apartment interest rates, and if you can receive a discount for extending your existing coverage.  Allstate and Geico both offer automobile and renters insurance, and you can get a quote on their websites.

Get the right policy if you're a business that rents

Business renters insurance may be right for you if you own a business that rents its retail or office space.

I recommend: Get a business insurance quote fast online, or visit an insurance provider's business insurance options page to determine what type of business insurance is right for you. Business renters insurance is a little different from the renters insurance offered to individuals--it can protect specifically against crime, accidents, and other liabilities that may happen on business property.

Know your coverage from renters insurance

Depending on your coverage, your renters insurance may or may not cover flood damage, fire, or other natural disasters.

I recommend: Get a quote for renters insurance providers in your area and select from different coverage and premium options.  Depending on your area's geography, you may be able to add flood insurance to your renters insurance coverage, though it's not typical.  Some providers, like Allstate, offer to not only add flood insurance but also to personalize with coverage for cash, satellite dishes, and other specific items.

Be proactive in safeguarding your possessions even with renters insurance

To make sure that your possessions stay protected, document all of your possessions with a video or photos, and keep documents in a fireproof safe.

I recommend: Even after setting up renters insurance, it's a good idea for your home or business to protect valuable or important documents with a fireproof and floodproof safe.  You can also get jewelry safes that will safeguard against burglary as well as fire and smoke damage to your valuables and heirlooms.  Purchase a combination safe large enough to accommodate documents, bonds, money, or even files.