Renter's Insurance
If you have never lived on your own before, this may be the first you've heard of renter's insurance. Here are some quick tips and considerations.
If the house or apartment where you live is broken into, catches on fire, is hit by a tornado, or floods, your landlord will likely have insurance to cover the damage. In almost every case, the landlord's insurance ONLY covers damage to the building—NOT damage to your personal property.
Your landlord will not likely choose to (or be legally responsible for) replacing your TV, laptop, bike, clothing, books, gaming consoles, iPhone, etc. It is up to you to protect these items.
The only way to ensure your property is covered in any of the instances described above is to get renters' insurance.
Ask your parents for their advice about insurance providers. It is likely that they have insurance (homeowners', auto, life, etc.) with a company they like and would recommend. I think this is a good place to start.
Some of the major providers of renters' insurance include:
Click here for additional information on renter's insurance and to compare quotes from various companies.