One of the main things to look for when renting a home is renters insurance. Your landlord is most likely to have insured his building, while the onus is on you to insure your possessions with a suitable home renters insurance policy. If you think of it as an unnecessary expense you ought to think again. In the long run, this type of insurance policy can save you from financial ruin in the event of a disaster.One of the main reasons you ought to purchase home renters insurance is to protect your home from liabilities. There could be many instances where insurance could save your day. If there is any water seepage from your home to the residence below, it will cover the cost of repairs for any damage to the other residence. If a visitor slips and falls while in your home it will also cover the cost of treatment for any injuries or cover the cost up to your liability limit in case the person chooses to sue you in court and wins.There may occur a time when you are forced to stay away from your home due to repairs. During this period renters insurance will cover the expenses that you may need to incur. You need to check with your provider for the extent of coverage which is usually around 30-40 percent of the policy value.Thefts and vandalism can occur at any time, but with the right renters insurance you can cover the costs and prevent any financial damages. Premiums are usually based on how secure your home is, and the location where you live. Any safety and security equipment installed will attract a lower premium, while you continue to reap the benefits of renters insurance.There is no denying the fact that natural disasters can cause havoc and financial ruin to any family without proper insurance. Strong winds, lightening, floods, fires, and volcanic eruptions just a handful of disasters that are always looming depending on the area you live in. It is essential to be prepared for such disasters with adequate renters home insurance.Never make the mistake of using your landlord’s insurance as an excuse not to purchase renters insurance. Your landlord’s insurance covers only structural damage and often won’t even cover that. Therefore, you need to make sure you are well covered with renters insurance. Besides, a few dollars a month won’t hurt so much when you can reap the benefits and remain financially secure in the event of a disaster.