Renters often forget about insurance, because unlike with cars and houses, there's no one to remind them. They plan on moving or maybe buying a home in the future, so they don't consider any fire insurance. Some people don't realize their accumulated wealth. Furniture, TVs and electronic equipment all adds up. Not just fire, but other perils, like water damage, vandalism and theft.
Renters insurance is transferable.
Move, and it goes with you. Huelsman would argue that it is an investment in your future. I mean, cost wasn't a factor. It was just stupidity. When you're buying it, consider replacement costs.