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[Music] most people who own their homes know that theyre required by mortgage companies to carry homeowners insurance to protect their property their possessions and any injury incurred by visitors but what about people who are renting or leasing their living space renters insurance is usually not required but is it a good idea even if youre just starting out or living in a place for a year getting a renters insurance policy could be a smart investment you may not think youve got anything of great value but you probably do more than you could comfortably afford to replace in the event of a bad burglary or say a fire the average annual renters insurance premium in the u.s is only 188 or a little more than 15 a month because renters insurance is usually cheap its a smart investment think of the possible alternative which would be paying out of pocket to replace everything that could be damaged or stolen your jewelry flat screen tv computer furniture clothing and so on and a landlor