Renters are not protected by their landlords. If there is a theft, a fire or smoke damage, the landlord's insurance does not pay for the renter's belongings. For that, a renter must have their own insurance, which is why renter's insurance is so important.
"If there was a fire, if there was water damage, I just want to make sure I don't have to worry about it," said Bliss Allen.
Allen lives in Rancho Penasquitos with her husband and two young boys. They have rented for nearly five years and have always had renter's insurance.
"It is so inexpensive," said Bliss. "And the peace of mind is definitely worth it."
Renter's insurance generally costs between $10 and $20 a year depending on how much coverage is necessary. The deductible is often around $500. That coverage is important whether you're a family of six renting a home or a single student living in a studio apartment.
State Farm agent Walt Waggener says the best place to start shopping for insurance is with the company that insures your car.
"It may drop your auto insurance premium if you purchase a renter's policy," said Waggener. The agent says it is important to make sure your policy covers replacement value not just the value of items at the time of the loss.
Allen says it has been worth the peace of mind.
"Thankfully we've never had to use it but I definitely think it is worth it," she added.