Definition: The word 'cheap apartment insurance' refers to any type of insurance that guarantees low or no premium prices for an apartment rental, especially in times where rates can be quite high due to a high cost of living. The specific definition of this term could include: - The insurance policy would have an extremely low monthly premium, often as low as $100 per month. - The coverage offered by the insurance company might include basic protection for damages such as water or electrical damage that can occur on any kind of property. - The premiums for the coverage provided could be significantly lower than those of a more traditional property insurance policy, making it more cost-effective in some cases. In terms of the specific type of apartment insurance available, there are different types ranging from basic rental insurance, which only protects against certain types of damage like water, electricity, and minor theft or vandalism, to premium-rate protection that provides additional protections for any kind of property damage.