If you rent an apartment, you may have considered in which situation renters insurance would be useful. You probably know that your landlord has insurance on your rental property, so you may be wondering why renters insurance is important. Rent, utilities, and other costs can add up quickly, so you may be reluctant to add one more item to your monthly tally, especially since it's optional. If you look up the statistics, only about 40% of tenants have renters insurance. With less than half of renters opting in, you may think there aren't many reasons to get renters insurance. While it may not be legally required (though your landlord will on occasion require it as a condition of your lease), purchasing renters insurance comes highly recommended. If something happens in your apartment or to your personal belongings, you'll want to know you're covered.