Military Liability Insurance

Another tip: military renter's insurance also covers liability.

If a visitor to your apartment slips on a wet floor and is injured, you could be held responsible for thousands of dollars in medical bills. Your renter's insurance would likely cover the costs, to a specified limit.

Even a fire could leave you personally responsible for damages to the building and others' property. Again, renter's insurance could provide $100,000 of coverage for your liability, and even your legal fees in some cases.

For military personnel who re-locate frequently, renter's insurance is portable.

Most policies cover your personal possessions during a move, during shipment, or while in storage. When you travel, your luggage and other personal items are covered up to the limits of your renter's policy. If your suitcase or valuable computer doesn't arrive undamaged, renter's insurance may cover them, too.