“You should strongly consider getting a policy. Renters insurance goes above and beyond protecting personal belongings. There are a lot of other coverages included in a renters policy that are important for you to have.
For example, renters insurance includes a coverage type called “loss of use,” which will help support you financially if you are displaced from your home due to a covered peril. For example, if there is a fire in the apartment and you cannot stay in the unit because the damages are too significant, your loss-of-use coverage will help cover expenses such as a hotel stay, takeout for food, extra gas to travel to work, etc.
Most often, renters insurance can also cover you if you damage someone else’s property. If you damage the building or the property significantly enough, you can be sued. The liability coverage on your renters insurance policy will help cover legal fees and the damage done to the property.