Unless you have a basic fire policy, most renters policies will cover theft. That is why it is a good idea to keep receipts for any large purchases, take pictures and keep an inventory. Keep copies of these in an off premise location such as a relatives home or safety deposit box. It will help if the insurance company questions a claim. Fraudulent theft claims cost insurance companies millions of dollars per year and many are cracking down. By keeping a good inventory, pictures, and receipts you protect yourself.
Yes, most renters insurance policies do protect against theft of property. However, excessively, or unusually valuable items such as valuable jewelry, expensive instruments, expensive clothing, or valuable antiques should be picked up on an add-on special rider, designed to cover the increased value not covered by the generic renters insurance policy itself.
For example, my renters policy does cover my classic guitar, but that guitar is worth a good bit more than what the generic renters policy normally allows for, so I have an add-on rider tailored just to cover that item.
These add-ons allow you to tailor the policy to your specific needs, and they are relatively inexpensive. Plus they remove an reasonable doubt about the item covered.
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For example, my renters policy does cover my classic guitar, but that guitar is worth a good bit more than what the generic renters policy normally allows for, so I have an add-on rider tailored just to cover that item.
These add-ons allow you to tailor the policy to your specific needs, and they are relatively inexpensive. Plus they remove an reasonable doubt about the item covered.