Because it is not required by law or required by financial institution renters insurance is an undersold policy but is something that every renter should buy. A renter’s policy covers everything that a homeowner’s policy covers, less the coverage for dwelling or other structures. Since you are not the owner of the dwelling, your landlord must have his own policy for this. However, all of the contents inside the home do belong to you. The landlord’s policy does NOT cover this and nor are they obligated to provide this to you. The cost per month for renters is so inexpensive that it is surprising as to why not more people have the coverage. The cost is about $11 a month and is based on how much coverage you want for your contents.