How Necessary Is Renters Insurance? 
Insurance may be required by your landlord . Otherwise insurance is never necessary . If you are able to sustain a large lawsuit with ease , then you dont need a renters policy . If your rental unit burns to the ground and you lose everything that you have in it , and it wouldnt even merit an entry in your check book , then you dont need a renters policy . If you dont need a friend to stand with you with money in their hand when things really go wrong , then you dont need a renters policy . 