Businesses and homeowners traditionally carry insurance and in many instances are required by lenders to do so. Many of us, however, choose to rent rather than to own our dwelling. A fire or theft could be devastating to you and your family both physically and financially. If you are a renter, your landlord's insurance policy does not protect your belongings; this type of coverage is the tenant's responsibility. Given the fact that your belongings would not be covered in a rental, you may want to take steps to protect yourself from the potential loss of belongings and valuables in the event of fire, theft, or other unforeseen disaster. Obtaining renter's insurance is highly recommended.