Is Renters Insurance Really Necessary? 
If you can afford a financial loss of your personal items and can easily repurchase what may have been lost due to a potential event such as fire , water , wind , theft and so on as there are many perils that are covered then renters insurance is not necessary . If you can absorb the costs of a potential law suit for bodily injury and/or property damage that can run well into the thousands or hundreds of thousands even if the suit is only alleged then renters insurance is not necessary . If you can pay your loss of use -LRB- substitute housing -RRB- if you are potentially displaced from your home for a loss as mentioned above then renters insurance is not necessary . If you said no to any of these you may wish to consider renters insurance . Renters insurance has to be the most affordable insurance on the market that covers so much for so little . 