RENTERS-Renters insurance covers damage or loss to the property of those who rent an apartment. Anyone who rents, whether from a Landlord, a property manager, or a university (as a student living in a dorm), should consider purchasing renters insurance. While landlords insure the apartment building against damage, their insurance policy does not cover your belongings. Purchasing renters insurance would protect your possessions if they are stolen or destroyed in a fire. Remember when you live in an apartment complex with many other tenants, you share the risk of damage. Renters insurance can also protect against liability lawsuits or medical bills of guests injured in your apartment.