Chances are that you and your family members already have a number of insurance policies in your name: Health, Homeowners, and Automobile insurance are some of the most common.
Renting an apartment or house is no different - you can purchase insurance for your personal property for the duration of your residence in a particular location.
The following clause from the University Apartment lease details a tenant's responsibility for his or her personal property; a statement of this type can be found in virtually any rental or housing agreement / lease:
While not required, it is highly recommend that students purchase renter's insurance for their personal property. Renter's insurance can typically be added to an existing insurance policy at a relatively low cost.
While coverage certainly varies by company and policy, renter's insurance may cover loss due to fire, water damage, theft, etc.; this coverage may even extend outside the residence.
The University Apartments office recommends that you inquire with an insurance company as to the benefits, costs, and coverages offered by a renter's insurance policy.