What is the deal with renters insurance?

Don't neglect to buy renter's insurance.

If you rent, this is a must do. Your llandlord's insurance does not cover your belongings. A renter's insurance policy covers your possessions and additional living expenses if you have to move due to an insured disaster such as fire. By purchasing renter's insurance, your possessions are covered against losses from fire or smoke, lightening, vandalism, theft, explosion, windstorm and water damage – not including floods.

It also provides liability protection if someone is injured in your residence and decides to sue.

Renter's insurance is usually very affordable, but you can bundle and save - group your renter's, auto and life insurance with one company. Something else to consider is purchasing a floater to provide additional coverage for those more expensive items like guns, jewelry or art.

To hear one woman's story read this from The Washington Post.