Final answer:
Renter's insurance is crucial for protecting personal property and providing liability coverage for tenants at an affordable cost.
Explanation:
Renter's insurance is essential for tenants as it provides coverage for their personal property in case of theft, fire, or damage. It also includes liability protection in situations where visitors are injured on the rented property. Additionally, renters insurance is relatively inexpensive, making it a wise investment for safeguarding against unforeseen events.
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