What was even more frustrating was how often in the following days I was asked, "Did you have renters insurance?" and the look of shock and horror that followed when I sheepishly answered "no."

Renters insurance? I had never even heard of it. Where were all these people now insisting on the importance of renters insurance a year before?

Most renters, especially new ones, don't realize they need renters insurance. They think their landlord's insurance policy will cover them, or that if they don't own the building, there's nothing to insure.

But what about personal belongings? According to an article on dailyfinance.com, the average person has $20,000 in personal belongings. It could take a while to replace those items if you were to lose them.

Most renters insurance policies cover fire, lightning, windstorm or hail, freezing of plumbing system, ice, snow or sleet damage, and theft, but it's important to verify what is covered with your agent.

Here are a few more tips from dailyfinance.com:

• If you want your premium to be lower, settle for a higher deductible.
• See if you can bundle your renters policy with your auto insurance policy. You could save money.
• Install safety devices, like a smoke detector,  to lower premiums.
• Make sure your policy offers replacement value so that you'll get enough money to replace your belongings at today's prices, not at their cost when you originally bought them.
• Have valuables appraised to base replacement costs, and keep receipts for big-ticket items.

Are you convinced on the importance of renters insurance yet? Call 888-325-8877 or visit usiaffinity.com for a free quote.