What Does Renters Insurance Cover, And How Cheap Is It? 
Most people consider purchasing renter 's insurance to cover their personal belongings - most renter 's policies will pay for the loss of personal property due to theft , vandalism , fire , etc. . However , a renter 's policy can also provide coverage if you are personally liable for injury to another person or damage to their property due to a non-vehicle related incident . In addition , a renter 's policy may also pay for `` loss of use '' due to a covered loss , meaning if you are forced to temporarily relocate due to said loss , there may be coverage for related expenses . Renter 's insurance is typically very affordable . Premiums can vary from one person to another , and some companies may offer better prices than others depending on your location , but I 've seen renter 's policies as low as $ 9 or $ 10/month . Please bear in mind that there are a lot of variables that affect your rate , and you may or may not be able to find renter 's insurance for this kind of price . 