Is Renters Insurance A Waste Of Money? 
A renters policy is an example of sharing a risk . There is a risk that your apartment could catch fire and destroy everything that you own . If you are concerned about that possibility you purchase a policy that pools you with others in a like situation so that if someone in the group has that fire , the money to make that person whole is available . To the person receiving the funds , the policy was a windfall , to everyone else it was an expense but all of the participants shared the risk . 