'I don’t need it.'
If you’re like the 16% of renters surveyed who chose not to purchase renter’s insurance and don’t fully understand what it covers, it can be easy to think that you don’t need it. In fact, many people assume they’re covered by their landlord’s insurance. While your landlord’s insurance covers damage to the building, it doesn't cover your belongings. Individual renter’s insurance generally covers personal items that are lost due to fire, smoke, wind, hail, theft, vandalism and, in some instances, water damage. Some policies also offer liability insurance — covering you if visitors injure themselves in your home. Source: www.iii.org