Whether you just moved into a new apartment, have lived in a rental property for years, or are just thinking about moving into a town home, you will definitely want to consider getting renters insurance. Renters insurance covers your property against things like fire, smoke, vandalism, theft, explosion, and windstorms.

According to a 2014 poll by Insurance Information Institute, 95 percent of homeowners have insurance, but only 37 percent of renters carry insurance. While renters insurance may not be required at your apartment, there are several important reasons to protect yourself while renting. When you live in an apartment complex, all your neighbors are potential risks, so even if you take precautionary steps, you need to be prepared in case your next-door neighbor isn’t as responsible.