One of the biggest misconceptions renters have is they are somehow protected by their apartment complex or the owner of their unit. Unfortunately, neither of those parties are responsible for your losses.
Common renters claims are due to fire, water or theft.
The owner of your home, condo or apartment will likely have liability protection to cover them in the event of a lawsuit. It’s likely they also have some coverage on whatever property came with your unit, such as a fridge or stove.
If you are a renter and you want liability protection or coverage for your belongings you must buy your own renters insurance policy. Costs vary but may be around $12 – $20 per month.