But, today, when you got home from class, you are in front of a sobering sight.

The stereo system is gone along with all of your CDs, including the imported Jimi Hendrix CD that took you five years to find. All of your Guess jeans, Tommy Hilfiger shirts, and even your stylish Armani suits are gone. Gone, also, is your computer with your term paper and semester project work in its hard drive. Your professor is never going to buy this excuse without a copy of the police report.

Even the notebook with the phone number of that cute girl from the party is gone.

People you didn’t know last night had other plans than coming to your party. Now, someone have made off with all your stuff. What are you going to do now?If you have renter’s insurance, you could call your agent and get started replacing your things and moving on with your life.

You may think your belongings don’t have much value. However, consider the cost of the outfit you are wearing right now. Take into consideration how much you paid for your shirt, pants, shoes, and any jewelry that you might be wearing. The shirt may be from Liberty House and may have cost you $30. The pants from Banana Republic, another $60. If you are wearing your favorite Nikes, they may have set you back $50. The Diesel watch cost $60. Now, take these figures and multiply them by your entire wardrobe.

Even if you are into thrift shop chic, the collection of antique Hawaiian shirts you scored for only $5 will be hard to replace. That’s a lot of nights at Pipeline you will have to skip if all your cash is going to replacing your stolen clothes.

Next, add in your personal computer, stereo, and music collection. The television – how are you going to find out who the last "Big Brother" survivor is now? The costs are starting to add up!

Renter’s insurance protects your belongings from unexpected losses such as theft, fire, or vandalism. Many people are under the assumption that their landlord’s insurance will cover these losses, but this is not so. The insurance that a landlord carries is to repair the space that you are occupying if it is damaged. If someone breaks into your room and steals all your stuff, the landlord’s insurance will pay for the window that the thieves broke. And that’s all.

Additionally, renter’s insurance covers your belongings while you are travelling. This insurance will help you to recover if you ever are faced with the trauma of waiting at an airport baggage carousel for a suitcase that never arrives.

When you think insurance, you probably expect a major hit to your wallet. Not true for renter’s insurance, which will average less than $15 for $25,000 in coverage.

So, the next time you spend $3 a cup of coffee, consider that one-week’s worth of Starbucks could pay to replace everything you might lose in a robbery or a fire.

Renter’s insurance won’t help you with your professor, and it won’t find that cute girl’s phone number, but it will help replace the physical things you’ve lost. And peace of mind is worth a lot more than a double latte.