It is smart for a tenant to purchase Renter's Insurance. It covers personal belongings as well as liability. It is worth every penny. Without it you have no coverage for any of your belongings should you become a victim of burglary, water/storm damage, etc..
The cost is usually from $120-$180 per year. We sell insurance, too, but right now It seems that State Farm currently has the best rates I've been seeing recently. Feel free to call Will Thomson, local State Farm Agent at 215-918-1840.
Don't forget that when you bundle your car insurance with the renters policy, you get an even better deal.
Good luck. If I can ever assist you with anything real estate related, please feel free to call me.
All the best,
Larry Lichtman, CNE
REALTOR, Property Manager
Your Real Estate Resource For Life
Cell/Text: (267) 254-7994
Real Estate Sales & Leasing
Property Management & Insurance
1611 Snyder Avenue
Philadelphia, PA 19145
Office: (215) 271-7070