If you own a home, the law requires that you have insurance to cover your investment. No such laws exist for those who rent apartments, but that doesn't mean insurance isn't a very good idea. Even very young people often have very expensive belongings. What happens if those belongings are ruined in a fire, a flood, or are stolen out from under you? If you don't have renter's insurance, you're probably going to be out of luck. What's great about this insurance is that it is very inexpensive. Most companies charge no more than $20 a month for the coverage, which will be more than worth it if something happens.
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