Renters insurance is a type of insurance policy designed to protect individuals who rent their homes. It covers personal belongings, such as furniture and electronics, against risks like theft, fire, or water damage. Additionally, it often provides liability coverage, which can help pay for legal expenses if someone is injured in your rented space. This insurance is typically affordable and can be purchased through various providers. Many landlords may require tenants to have renters insurance as part of the lease agreement. Overall, it offers peace of mind by safeguarding personal property and providing financial protection in unexpected situations.