Renter's insurance is not just for your property. Find out here why you need it even if you have no property.
Insurance Tip for the Week: Know About Renter's Insurance: Why and How Much?
By Bobbie Sage, About.com GuideDecember 26, 2010
Explore Personal Insurance
©2012 About.com. All rights reserved.
A part of The New York Times Company.
The difference between actual cash value (ACV) and replacement cost is valuable to know when you are looking for renter’s insurance. The better option would be replacement cost because that is the price you would be paying to replace the item and not the cash value.