Renters Insurance
Many people ask the question if they need renters insurance. Similar to your auto insurance, renters insurance will provide coverage for your personal belongings ( furniture, clothing, and consumer electronics ) in case of a fire, theft, vandalism, or other perilous act.
A common mistake that renters makes is they think the landlord's insurance covers the renter's personal effects. This is untrue, landlord's insurance does not cover tenants' belongings. It covers damage or loss only to the structure of the building.
In addition, renters insurance can help protect you in case of a liability lawsuit against you. If the incident occurred within your rented residence, or another place, the other party may hold you responsible and request damages due to an injury they or another person suffered.