There are many things you should consider when considering renting. These include whether or not you will have a landlord who is trustworthy, how your neighbors are, and how you’ll pay your security deposit. All this can make it easy to forget to include the obvious. renters insurance.

“Renters insurance satisfies a real need that many renters don’t even realize they have. For example, a small kitchen fire or an unattended candle can easily cause thousands of dollars in damage,”Kathy McDonald, senior vice-president, Assurant Specialty Property

According to the National Fire Protection Association’s most recent figures, residential structure fires resulted in $7.1 billion in property loss in 2010, an average of almost $18,500 per fire.

Renters insurance is essential if you plan to rent a house, apartment, or condo.

* Renters insurance is affordable and easily fits into your budget, no matter how tight it is. Renters can protect their belongings for as low as $4 per week and have peace of mind.

* As a renter, you are financially responsible for damage to your unit if it’s a result of negligence — such as fire, smoke or water damage (via plumbing or AC issues, not flooding due to excessive rain).

* Many property managers now are requiring renters to have liability coverage. Renters insurance has a liability component, in the event that you make a mistake or cause damage to another unit. Liability insurance covers injuries that occur in the home of someone who is hurt and requires medical attention.

* Some renters insurance policies cover burglary, lost or stolen luggage while you’re traveling and even items taken from your car.

* If you move, policies can be transferred to new communities and locations without a lapse in coverage.

Renters who are concerned about their security deposit can find help. A program like SureDeposit offers residents the chance to make a one time bond premium payment, instead of having to pay a security deposit.

Renters insurance can be an affordable and easy way to protect their belongings. It can be costly to replace your belongings in the event of a fire, flood, or other natural disaster. Why purchase the same TV twice? Renters insurance is easy to get.

Learn more about choosing the right renters policy. www.rentersecurity.com. Go to www.suredeposit.com.