I am considering getting renter's insurance. It is fairly inexpensive and covers any damage from floods or fire etc as well as theft. It is just like homeowners insurance I have heard. I think it would be worth the same amount of money to get it. You can purchase through the same insurance company that you have your car insurance through and possibly get a discount for having another type of insurance from your insurance company.
Some apartments require you get renters insurance. I would get it..Good chance you won't need it but there's always that small chance that something devastating could happen and you need it..It's good to be covered.
I had renter's insurance when I was a renter. It's very cheap, and very necessary if don't have enough cash to replace all your belongings should there be a fire or a disaster, own any animals, or invite people over to your house.