Firstoff, USAA is absolutely wonderful. I use them for saving, checking, loans, insurance, everything! Their renter's insurance is great. It is fairly low cost, as little as $10/month. You can choose what level of coverage you want...obviously you would want an amount that covers all of your belongings. USAA is for military members and their families, so they understand the military lifestyle. They are willing to work to reduce fees during deployment and you have access to customer service no matter where you are in the world.