If you live in an apartment or rental home, it is important to protect your assets.  Renters insurance protects the assets that belong to you in the event that something happens to you when you are renting.  Depending on your policy, the insurance will protect your possessions against fire, theft and flood that is not covered by the landlord’s policy.  Renters Insurance also protects you if someone is injured in your rental property.  If your next door neighbor’s unit catches on fire and burns your unit down, you want to make sure your possession are covered and this type of insurance covers those circumstances.