The average renter has $20,000 in possessions. Landlords insure the building in the event of damage to their property; however, their policy does NOT cover YOUR personal belongings. Renters insurance also provides liability coverage and protection against lawsuits and medical bills of guests that may get injured in your apartment. Coverage is inexpensive and comprehensive. Just fill out the form below to find out how inexpensive it can be. Usually renters insurance costs only $8/month.