If you’re a renter without renters insurance, you could lose everything you own. You can find cheap policies that will protect you from fire, theft, and acts of nature – all without costing more than you can afford.Why Do You Need Renters Insurance?Many renters think they’re covered by their landlord’s homeowners policy. Unfortunately, this policy only covers the building itself and not your personal possessions.If you think you don’t have enough personal possessions to make rental insurance worthwhile, take a few minutes to do an inventory. You’ll probably be surprised at how much stuff you own and how much it’s worth.Be sure to include the following items in your inventory:* Furniture and appliances* Clothing and jewelry* Books, CDs, and DVDs* Tools and sports equipment (bikes, skates, skis, etc.)* Electronic equipment (computers, printers, television sets, cameras, phones, iPods, etc.)* Linens and kitchen goods such as plates, glasses, silverware, and utensilsOther CoverageIn addition to covering your personal possessions, a rental policy also provides:* Liability coverage, in case someone is injured while visiting you or in case you damage someone else’s property* Additional living expenses, if your rental is damaged and you need to pay to live elsewhere while it undergoes repairsFinding the Best RateThe key to getting a cheap rate on rental insurance is to go to an insurance comparison website. These websites give you fast quotes from multiple A-rated insurance companies.All you have to do is fill out and submit a simple online form with information about yourself, the property you’re renting, and the insurance you want.If you have any questions as you complete the form, the best comparison sites let you talk online with insurance professionals to get fast, accurate answers to all your questions.Then, once you get your quotes, you can compare them and choose the cheapest quote that offers the best coverage.