Your landlord's policy covers the building, not your belongings and not your liability. For a few dollars a month, renters insurance replaces what you own after a fire, burst pipe or burglary and pays for somewhere to stay while your unit is repaired.
Personal property coverage replaces furniture, electronics, clothing and kitchen equipment. Loss-of-use coverage pays for a hotel or short-term rental if your apartment becomes uninhabitable — a meaningful benefit when Bay Area temporary housing runs well above the national average. Personal liability covers injuries to guests and damage you cause to the unit or a neighboring apartment.
Actual cash value pays the depreciated value of a five-year-old laptop; replacement cost pays what a new one costs today. The premium difference is usually small, so we default to replacement cost. High-value items like jewelry, cameras and bicycles are capped by standard sub-limits and should be scheduled separately if you own them.
Most Santa Clara County property managers now require proof of renters insurance with a minimum liability limit and the landlord listed as an interested party. We issue that certificate the same day. Bundling renters with your auto policy typically saves more on the auto side than the renters policy costs.