Why Should Renters Get Renters Insurance? 
Asking the question why should Renters get Renters insurance is the same as asking why should anyone get insurance ? The purpose of insurance is to pool together monies to reduce individual financial risk from unforeseen losses . Other than car insurance and now health insurance you do n't have to purchase insurance but I certainly would n't recommend it . Even if you are a millionaire you still need insurance . The more money you have the more money you can lose and the cost of insurance is minimal compared to the financial risk you face . Renters needs renters insurance to protect their belongings and also to provide liability protection for negligent acts . Renters insurance typically costs between $ 100 - $ 200 per year and for this cost you get coverage up to $ 25,000 for personal property and up to $ 300,000 in liability . The real question should be why would n't Renters get Renters insurance . 