Playing it safer
You might think that because your landlord has property insurance, you don't need your own policy. Not true. Your landlord's policy will only cover damage to the dwelling, not to your possessions.
If you have valuable audio equipment, instruments, computers, research material or anything else you can't afford to replace, consider renters insurance. It's usually inexpensive—some policies offer up to $25,000 of coverage for less than $300 per year.
A renters insurance policy usually covers events like fire, theft and vandalism. It may also protect you from damage caused by things like faulty wiring, water or weather.
These policies often don't cover damage caused by natural disasters. For example, if you live in a flood or earthquake zone, you'll need to buy separate policies or riders. If you live in a region where hurricanes occur, you might also need separate riders to cover wind damage
If you own unusually expensive items, like a rare piece of jewelry or artwork, you might need a separate insurance rider to get the amount of coverage you need.