1. If there was a theft and all your belongings were stolen
2. If there was a natural disaster and the contents of your house were damaged
It is necessary to realize that without renter’s insurance you have no coverage for such a situation. Nowadays not all houses have alarm systems, and adequate security. If you leave for a long holiday or trip, a renter’s insurance will give you peace of mind. Your property owner or house owner may or may not have a home insurance policy that offers adequate coverage for the contents of the house. If it is on rent, only the property will be insured. In such a situation it makes a lot of sense to have renter’s insurance. In case of a theft or flood, the property will be completely covered, but your private contents will be completely uninsured. Nobody should risk such a situation, and that is why renter’s insurance is essential. If you think whether you actually need renter’s insurance or not, you should ask yourself how much you would need to spend in order to replace all your belongings and if have and expensive belongings in your home. Depending on this, you will know if you need a renter’s insurance and if the answer is yes, what type of a renter’s insurance you need. To get your doubts cleared regarding these you can approach any insurance company that deals with renter’s insurance and even get a Free Renter's Insurance Quote and compare.
Make sure you note down the premium, deductible, coverage and features that each renter’s insurance policy has, so that you can compare and purchase accordingly.