If you are a renter, then you need to read this article. Typically, the owner of the building is responsible for any loss to the building. The building owner is not responsible for your personal belongings.
Renter’s insurance is a homeowner’s policy for non-homeowners. It covers loss of your personal property, such as clothes, furniture, computers etc. It covers losses due to theft, fire, wind and many other events that might cause damage to your personal property.
You can also design the renter’s policy to provide liability coverage, should you cause injury to a third party. In some cases landlords require such coverage.
A renter’s policy can go a long way toward protecting you financially if you suffer misfortune. Best of all, you don’t have to own your home to qualify for protection. Renter’s insurance is very affordable, and can be designed to meet your individual needs.