Insurance is one of those things you don’t want to think about but undoubtedly need. For example, if you own a car, you are required to carry auto insurance to protect yourself and others in the event of an accident. Mortgage lenders require homebuyers to carry homeowners insurance to protect their property and to cover visitors in case of an accident. However, many renters don’t see the need for renters insurance, especially because they don’t own the property. That’s a mistake.