Renter's insurance. It might be something you never thought about. Insurance is for homeowners, right? You're renting, so if the house or apartment is destroyed by fire or flood, it's not your problem. You'll just find another place to live and move all your stuff there. No big deal.

But just what "stuff" do you intend to move to that other house or apartment, exactly? Your "stuff" will be destroyed, along with your landlord's building. There won't be anything left of your to move if it's all destroyed. You'll be left with nothing but the clothes on your back - literally!

Some renters are under the assumption that if their rental unit is damaged or destroyed, the landlord is responsible for replacing all their belongins that were housed in the unit. In almost all cases, this assumption is grossly incorrect. In most cases, the landlord's insurance covers only his property - not the renter's.

Laws differ by states, but sometimes the landlord is responsible for loss or damage to the renter's property. For example, if your furniture was damaged due to a faulty sprinkler system in the home or apartment that leaked water onto your furniture, you could probably get compensated for the loss in a court of law. In most other instances, however, the renter is responsible for his own losses.

Think for a moment about all that could happen in your home. You could accidentally start a fire. Your home or apartment could be burglarized. It could be vandalized. Your patio furniture could be stolen or vandalized. Which of these would be covered by the landlord's insurance policy? None of them. Could you sue? Sure, but you won't win unless the landlord had a good idea that those things were going to happen. And you can't predict theft or vandalism.

When my daughter and her friend got a house together, they were on top of the world. They worked long hours to buy nice furnishings and decor, along with some new appliances. Unfortunately, the roomie had a stalker. When she refused his advances, he broke into the house one night while the girls were at work, and he destroyed everything he could get his hands on. They knew who had done the deed, but they had no proof, so he was never charged. They had not had the foresight or maturity to get renter's insurance, so they had no way to replace their belongings.

Don't let this happen to you. Do a little research about renter's insurance and renter's insurance quotes. You can find plenty of them online. Most policies are very affordable, and you'll be offered a wide range of options and coverage. Comparison shop for the best renter's insurance quote, along with the best overall value. Don't let the price be your only guideline when it comes to a renter's insurance quote. Make sure you know what you're getting for your buck.

If you're hesitant to invest the small monthy payment, think what could happen if you don't. Without renter's insurance, you could be wiped out in one fell swoop, left with none of your personal belongings or furniture. The small monthly premium you pay will provide a wealth of peace of mind.