Do you need renter insurance

One difference between 'baby boomers' and 'millennials' is that 'boomers' tended to marry earlier and buy their first house earlier than today's millennials.  Millennials, for whatever reason, are more likely to rent that own.  The amazing thing is that close to 60% do not have renter insurance.  Most home owners have insurance because 1) they have a huge investment to protect and 2) the bank won't lend the money unless they have insurance. Renter insurance is probably the most under purchased product on the market.  It's also probably the least expensive.  A basic policy with $15,000 replacement on contents and $100,000 liability will cost around $12 a month!  You say you don't have anything valuable to insure.  Look in the mirror.  That outfit you're wearing will cost over $200 to replace from top to bottom.  Multiply that by all your clothing and you have several thousand dollars of value in your closet and dresser drawers!