<prompt> Human: Ill explain my situation: i live in a newer townhouse with my girlfriend and another friend who actually owns the unit. What do you guys think about renters insurance? What are the advantages vs the costs?  <response>: Yes. Its super cheap. If you cannot drop the money to go out and replace everything you have right now, then you need it. Also, it comes with some added bonuses. I once used renters insurance while in school when the power went out for a week and I lost all the food in my fridge. Renters insurance carrier put me up in a hotel it was in the middle of February in Ohio, so...super cold, and the cut me a check to replace all the spoiled food in the fridge. I had some friends in school who did NOT have renters insurance, and their whole apartment building burnt to the ground. They didnt have insurance, and it was pretty devastating for them. It also comes with personal liability protection, so if you ever need it, you have some protection in the event you get sued for negligence. 