Like homeowner's insurance, renter's insurance protects your personal possessions from loss and protects you from huge legal and medical bills should someone be injured in your apartment.
Myths and Facts
My landlord's insurance covers me. Not true!
Your landlord carries insurance to cover his or her loss if the building is destroyed or damaged in some way. Your landlord is also covered in case someone (including a tenant) is injured on the property, though not in your apartment.
Renter's insurance is expensive. Not true!
The average renter can get complete coverage for a few hundred dollars, or less, per year. Check with your parent or guardian to see what, if anything, their insurance may cover.
My roommate has insurance; I don't need it. Not true!
Your roommate's insurance will cover his/her possessions, but it will not cover yours unless you are listed on your roommate's policy.
How do I get renter's insurance? It's easy!
If you have a car, talk to the agent who does your car insurance. If you don't, ask your friends who their insurance agent is, or head for the yellow pages.