Buying renters insurance to protect your stuff may seem like an unnecessary expense until you experience a theft or fire in your rented home or apartment and lose some of your most treasured possessions forever.

Whether you're a longtime renter or starting out in your first place, renters insurance policies provide important benefits and coverage. If a fire or similar incident destroyed your home and you didn't have renters coverage, it would be up to you to replace everything you own. Plus, if someone claimed you caused an injury or property damage, without adequate insurance protection, you could be at risk for an expensive lawsuit and paying that person for his or her damages.

As you consider whether to buy renters insurance, here are four things you need to know:

Obtaining a driver’s license is a major rite of passage for millions of young people across the country. Getting a license means freedom, self-reliance and the ability to hit the open road. But with that privilege comes risk and increased responsibility. As a parent, it is important to help your teen stay safe on the road—and new technologies can make it easier than ever.