Renters Insurance is like homeowners insurance for renters.  Some apartments apartment complexes in town require tenants to carry a renters insurance policy, but dont despairits pretty cheap.  Many (most?  all?) auto insurance companies give hefty discounts on your auto policy if you pick up a second policyhomeowners, renters, whatever.  You may even end up with net savings, actually saving more on your auto policy than you pay for your renters policy (State Farm Insurance example: with a twocar policy, a baseline $80/yr. renters policy knocked more than $100/yr. off one of the car policies).

Renters insurance is different from homeowners insurance in a few ways. Policies usually cover damage to your personal belongings and liability for injury in your rental property. The policy doesnt cover damage to the building itself—your landlord should have a policy for that.
