At less than $200 a year, the main argument for renters insurance is, it’s cheap:
With college-graduation season here, scads of young adults will soon rent their first apartments and possibly buy their first renters insurance policy.
There’s little reason not to get it: The average policy costs just $190 per year, according to the National Association of Insurance Commissioners. For the price of a few lattes a month, renters can cover their possessions, the cost of accommodations elsewhere if their home becomes uninhabitable, and liability for accidents on the premises. They just need to consider what kind of policy is best.