You know why landlords sometimes require you to have renters insurance, but there are reasons you should want it as well. Without a policy, if you experience theft or a fire, you'll have to pay to replace your belongings out of pocket. This can quickly add up, making renters insurance worth it for that possibility alone. Furthermore, if, for example, your dog bites a guest, or you damage someone's property, you'll be liable for any related claims. Personal liability coverage, a category of renters insurance, will cover the majority of expensive legal and medical fees that can arise from such situations. You'll also are covered for additional living expenses accrued, such as hotel charges or food costs, should you have to temporarily relocate if your apartment becomes inhabitable. Most policies cover up to at least $100,000.