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You’re standing at the kitchen sink washing the dishes. The raucous yelling from the living room tells you the game’s still on and your team’s still down by four. Then there’s the ominous shaking that goes hand in hand with seismic activity, an ominous crash, and silence reigns. Your entertainment center just tipped over, and as if ruining your brand new, $1,800 dollar HDTV wasn’t bad enough it also managed to hand one of your visitors a concussion and a luxury suite at your local emergency department.

Hopefully everything works out for the best, but the night’s going to have some consequences you couldn’t have predicted-you’re going to end up holding the bill for thousands of dollars in medical care and the replacement costs for your entertainment center, your television and the other three thousand dollars worth of electronics that were destroyed when the walls came tumbling down. It’s a good thing you bought a renters insurance policy when you moved in.

Over sixty four percent of American renters don’t think they need to buy additional renters insurance because their apartment is already covered under their landlord’s homeowners insurance policy. It’s a waste of money and one more unnecessary expense on their already overtaxed budget. The catch is, you never know exactly how necessary that insurance coverage can become on a moment’s notice. Being caught with your proverbial pants down and no renters insurance when disaster strikes can send your already stumbling finances spiraling down the tube into mountains of debt that make your credit cards look like child’s play.

Do the math: The loss of your entertainment center alone is going to cost you almost $5,000 in electronics, and have you seen what they’re charging for an emergency room visit these days? Between your doctors, anesthesiologist, nursing staff, radiology and laboratory services your bill can start rolling at over $1,000 an hour! (Those numbers differ by location and unique needs.) And extended hospital stays for overnight observation or ICU care sends the bill even higher. Since your landlord’s homeowners insurance was designed to protect their investments, not yours, their policy isn’t going to touch those losses with a ten foot pole. If you don’t have any kind of renters insurance protection, what’s a bill of $10,000+ going to do to your personal finances?

The good news is, renters insurance can help cushion the blow. Most renters insurance policies cover natural disasters, and every renters insurance policy from coast to coast will handle personal liability if someone is injured on your property. (Although if you live near a fault line earthquakes might be another story; check with your insurance agent. That was just an example.) That means that between your property replacement settlement and picking up the cost of your friend’s medical bills, after your deductibles your insurance company may have just saved you almost 90% of the cost of the accident.

Disaster can strike at a moment’s notice, and even if it doesn’t wreck havoc with your home it can definitely deal some major damage to your bank account. Don’t let yourself be a victim. Talk to an insurance agent about renters insurance for your rental property today.Anthony M. Peck is the Senior Developer, Software Project Manager and Director of Business Development for QuoteScout.com. For more information, and to compare quotes for your renters insurance, visit them on the web at QuoteScout.com.