Imagine coming home from a night on the town to flashing fire truck lights or arriving at yourapartment after a long trip to a flooded living room. Hopefully, you have paid for renters insurance as it will help you in the following ways:Fire and Smoke DamageLandlords typically cover the structure of the building, but personal belongings that have smoke damage are not covered by them. Renters insurance comes in handy at this point as the policy will cover everything lost by flames up to the coverage amount chosen.Personal LiabilityIf a friend came over and accidentally tripped over a toy on the floor and broke their ankle, renters insurance covers these types of liability claims. Whether individuals are inside or outside of the home, insurance will cover damage for situations in which you are liable as well as injuries of other friends and family members.Stolen ItemsIf items have been taken from the apartment, the insurance will offer the financial protection needed to replace them. Often times all people need to acquire is a police report proving the items are missing, and they will be compensated.FloodingIf you come home to a basement or living room full of water, renters insurance can cover any of the damage of personal items. The landlord will typically care for the rest of the damages since they have to do with the structure of the building; however, it is nice to know that personal property is covered with the insurance as well.Personal PropertyIf furniture or electronics would get ruined by any type of damage: fire, water, weather and so on, renters insurance covers it. People's possessions are important to them and when they do not have them due to these causes, they feel empty.If renters insurance has not been purchased, individuals should consider doing so in a timely manner. People never know when some catastrophic event could occur, and it is better to have the option to start over than have to depend on someone else's help later.