If you live in an apartment or a rented house, renter's insurance covers you for most wrongful acts you or your family may commit personally and your possessions. A renter's policy protects your personal property from things like theft or fire.

It can also provide you with defense costs under the personal liability coverage section should you be sued for something you did to cause injury to someone or damage to their property. Anyone who leases a house or apartment should consider this type of coverage. The State of Oregon is now forcing landlords to require it as part of a rental or lease agreement, and it must be listed as a party to the contract. The insurance company will notify you if the policy lapses or if changes are made to your policy after it has been established.