India, April 12 -- When Rohan Ghosh moved into a rented apartment in Kolkata, he took a proactive approach to protect his finances. Instead of assuming the landlord's insurance would cover everything, he opted for a renter's insurance plan, recognising that personal belongings require separate protection. A landlord's policy in his case covered only the structure.

He chose a plan that covered his furniture, electronics, and valuables on a replacement basis. To get the coverage right, he created a detailed home inventory, estimating the cost to replace items at current prices, excluding appliances provided by the landlord. He also listed high-value items, such as his watch and camera, supported by receipts and photographs.

One of the mos...