For those who own a home, it is a given that they need to have it insured in case something happens to cause damage to it. However, if you rent an apartment or home, you may not realize that you need renter's insurance - or that you even have the ability to get it at all. Here are three reasons every renter should have renter's insurance.

1. It's usually very affordable.

Whenever most people think of getting insurance coverage, they think of high costs. In reality, most renter's insurance policies have very low premiums The average monthly cost to get coverage for $30,000 in property damage is only $12 a month. Of course, the actual cost for your renter's insurance policy will vary depending on your state and the insurance company the policy is provided by, but it is rarely a high amount.

2. It could be required in your lease.

Another reason you should have renter's insurance is your landlord could make it a requirement in your lease. So many people think that they are covered by the landlord's homeowner's insurance policy. The truth is it only protects the actual house or building - their policy doesn't protect your possessions. Because of this, many landlords are starting to require their residents be covered by a renter's insurance policy.

While some landlords who require renter's insurance must see proof of coverage before you can sign a lease, others will give you a grace period to get it after moving in. Some will even help you find an insurance agent to buy your renter's insurance from. Just be sure that you do get it, because if it is in your lease that you need to have renter's insurance and you don't get it, the landlord can legally have you evicted.

3. It protects your belongings even while you are traveling.

You might think that your renter's insurance policy only covers theft or damage to your things while they are in your home. However, most renter's insurance policies give some amount of protection while you are traveling.

For example, if you take your laptop with you on vacation and it gets stolen, your renter's insurance policy will likely cover that loss. But, not every loss or type of damage is covered. For example, if your belongings are damaged due to a flood while on vacation, your policy won't cover that unless you have added flood coverage to it. 

To protect your monetary assets and possessions, start looking into renter's insurance companies, like the one represented at http://www.pginsure.com, today.