Personal property coverage on a renters policy goes towards replacing your clothing, shoes, furniture, appliances, and so on. Even though you may not think you own a lot, the costs of repurchasing these items (especially brand new) can add up really quickly, so it’s still a good idea to carry the coverage.
Renters insurance also covers you for more than your belongings. It provides you with liability coverage, which can help pay for court fees and legal expenses if you’re ever sued. It can even cover additional living expenses should something happen where you live and you need another place to stay while repairs are being made.
If you do decide to get coverage, you may want to check out this article: How to Find the Best Renters Insurance.