Apartment/ Renters Insurance
Personal Property
This coverage is the amount that an Insurance company will pay up to to replace your personal Items in your home in the event of a home claim ( furniture , clothes, ect...)
Liability Protection
This coverage is the amount that an Insurance company will pay up to to to cover your liability in the event of a lawsuit
Replacement Cost
Your Personal Property coverage can be covered as replacement cost. this means that the claim will be covered for what is it to replace the item up to the coverage amount.
Actual Cash Value
If you don't have replacement cost... your coverage will be paid as to the value of the item minus the amount of value that you have used of the particular items. You will not be paid full value of the item
Disclaimer
The above is intend to give you introductory knowledge of these coverage. Consult a Licensed Agent to get full explanation.