Renters' insurance is essential for protecting your interests as a tenant. While your landlord's security deposit covers potential damages to the property, renters' insurance safeguards your personal belongings and covers liabilities such as accidental injuries within your apartment or damages caused to others' property. Policies typically include coverage for theft, fire, and other unforeseen events, ensuring financial security and peace of mind. It's advisable to review different policies and consult with an insurance representative to find the coverage that best suits your needs.