In that situation, you'd just file a claim and then go replace the property with the check from the insurance company. (effectivecoverage.com)
It will help cover some of the costs of replacing your property in case of damages or loss. (effectivecoverage.com)
They can afford the risk of replacing their property if it's stolen or lost in a fire, or even if a pipe in their apartment bursts. (effectivecoverage.com)