If you've recently asked yourself, 'Should I get renters insurance?' we've got an easy answer for you: Yes. Yes you should get renters insurance. Renters insurance is one of the cheapest yet most valuable insurance policies you can own. On average, renters insurance costs $187 per year, or just over $15 per month. Even if you have an apartment full of second-hand furniture, you still need coverage. Renters insurance protects your stuff even when you aren't home. That means if your laptop is stolen from your car or while you're traveling abroad, it's covered by your policy. It also provides liability coverage and temporary living expenses if you were ever to need it. In a perfect world you'll never have the need for renters insurance. But if you ever do, you'll be glad you got the coverage.