Who Needs Renters Insurance? 
If you are renting an apartment , condo or home to live , you should have renter 's insurance . Not only will renter 's insurance cover your personal Property -LRB- contents -RRB- , but it also covers liability . Several years ago , I had a young women come into my office looking for advice on what she should do . She had been visiting her cousin , who lived in a town home . She went out on the back patio and lit a cigarette , smoked it & was sure she put it out in the dirt of a nearby planter . She and her cousin went out for dinner , only to return to the town home & the town home adjoined to be full a blaze with fire trucks putting out the fire . She was determined to be a fault . The insurance company of the adjoining home paid the claim and then subrogated -LRB- sued -RRB- her for the damages -LRB- ~ $ 105,000 -RRB- . Had she had renter 's insurance , it would have paid the claim under her liability portion of the policy . Instead , her wages were garnished and will continue to be garnished until the claim is paid in full . 