Do You Need Home Insurance When Renting? 
Most states do not require that renters obtain renters insurance . It is , however , prudent if the loss of your personal property would put you in financial distress . Since that is true of most renters , it is a good idea to trade a small payment , the premium , to protect you from having to pay the large amount generated by a claim . If it goes up in smoke , it is always nice to be able to recover . 