By Allyn Proffitt

Have you ever thought about how you would replace all of your belongings if someone broke into your apartment or if your apartment caught on fire?

If not, you should check out renters insurance. If something happened, how would you replace thousands of dollars worth of personal belongings?

“Renters insurance is a great thing to have — its inexpensive and covers all of your possessions, including not just stuff in your apartment, but also in your car and even stuff you may have in storage,” State Farm representative Emily Earlywine said.

Don’t think you have enough property to insure? When you add up the value of your TV, laptop, furniture, jewelry, cellphone and wardrobe, you have more to insure than you think. Collectibles and other items also add up.

Maybe you’ve heard that renters insurance is expensive, but it isn’t. For less than a dollar a day, you can insure your belongings.

Also, your landlord’s insurance doesn’t cover you. Typically a landlord’s insurance only covers the building in which you live, not your own possessions within the apartment.

However, Earlywine said if you are cooking something and accidentally start a fire, you are responsible. Liability insurance, something generally included in a renter’s policy, will cover the damage.

Even if you think you or your roommates will never catch the house on fire, did you think about what your neighbors might be doing? What if they leave a candle burning and it starts a fire on their side of the building? If you have renters insurance, your lost possessions will be covered.

If you don’t have renters insurance, you can call or visit local insurance agencies, such as State Farm, Kentucky Farm Bureau and Allstate for a quote.

You can also check online to see if your current insurance company or your parents’ insurance company offer renters insurance. Rates may vary based on circumstances such as the age of your apartment or whether you already have insurance through that company.