Even if you don’t own your home, you still need insurance to protect your possessions and to help meet your obligations to others, including your obligations to the owner of the home or apartment you are renting.
You could have a legal responsibility to replace an entire apartment building even though you may be renting only a small part of it. Your stove, for example, could catch fire, leading to damage by smoke, fire and water to the whole building. Or suppose a visitor were to be injured in your apartment and sued you; you’d be responsible for paying any legally awarded settlement. Without liability insurance, you could end up paying for a long, long time!