So you finally have an apartment of your own. You paid your deposit, signed the lease, called the cable guy,  scheduled the rental truck and maybe even convinced your friends (with a pizza bribe) to help.

There’s one thought that is not on your mind:
Renters Insurance.

But independence and responsibly don’t come free—and accidents happen. In the case of a fire, water damage, or other property damage, if you think your landlords insurance is going to pay for the new flat screen TV or computer you moved in with—think again.

While landlord insurance might protect the space you live in, your property owner’s policy isn’t insurance for renters and won’t protect the things inside. Rental Insurance, however, can put some of those thoughts at ease. It will cover your possessions that are all moved into you apartment by your friends or family.

Renters Insurance will also cover the little mistake of leaving the stove on and redesigning the kitchen with a little fire. And keep in mind that this isn’t just apartment insurance. Your home renters insurance will also pay for an attorney if you’re at the beach and a Frisbee throw gone awry sends someone to the hospital.

When people rent an apartment, they sometimes forget that they are responsible for the inside of that apartment. Scarier still: they may have never read their lease. In many boilerplate leases, there’s a section titled Insurance that normally says that, as a tenant, you’re responsible for everything. You may not own the building, but obtaining renter liability insurance helps to protect the investments you have made on electronics, furniture, and more.

Renters insurance covers fire, theft, water damage and other unforeseen circumstances or situations your landlords policy will not. The professionals at can assist you in putting together a renters insurance quote according to your needs as a tenant.

The best thing about renters insurance is its cost. In looking at some renters insurance quotes, you’ll find that the average policy costs $10 to $12 per month. Isn’t it worth three lattés at your local coffee shop to protect your belongings?