Although you do not own your home, that does not mean you do not need insurance coverage for your contents.  Renters insurance will protect you from loss due to fire, hurricane, theft and vandalism as well as other perils.  A great part of renters insurance is that it covers your furniture and electronics but it also covers portable things like laptops and bicycles whether you are home or they are stolen away from your home.   Renters insurance also adds the liability of a lawsuit if you are held responsible for injuring a person or damaging another person’s personal property.  Renters insurance will also provide coverage for you to temporarily find housing if damage is caused to your home and you cannot live there.