Do a quick estimate for what it would cost to replace your belongings. Like, how much if all your clothes were destroyed? Furniture? Electronics? Bikes? Any valuables, like jewelry?

For the dwelling, are you talking about just replacement insurance, or liability? I'm responsible for plumbing and wiring within my condo, so if a pipe within my walls bursts or my water heater leaks, I have to pay for all repairs, including any damage to neighbors' units.