The average Americans move about 12 times in their lifetime and it’s a safe bet that a few of those moves see people having to rent an apartment.

More people are renting than at any point in the past 50 years and the numbers tell quite a story. According to Forbes, studio apartments and one-bedroom apartments make up more than 50 percent of the apartment rental market due to millennial demand. Millennials are the most likely of all age groups to rent. In 2016, 65 percent of households headed by young adults were renting.

While it may not be the same as homeownership, there are plenty of benefits when it comes to an apartment rental.

• Freedom: When it comes to living in an apartment complex, there’s plenty of freedom to move around if you need to as life unfolds. Depending on the apartment complex, you can lock into a month-to-month lease which doesn’t tie you down long term.
• Amenities: A typical apartment complex has plenty of amenities to enhance your living experience.
• Maintenance: Living in an apartment complex means the rental company or landlord takes care of all the maintenance, whether it’s lawn care, snow removal and trash pickup, not to mention also taking care of all your repair needs.
• Security: Many complexes have good security systems and surveillance to keep you safe and give you peace of mind.
• Financial flexibility: If you rent an apartment, it eliminates many of those hassles and puts more money in your pocket.

If you’re renting you absolutely need renters insurance. If you’re young and renting your first apartment, don’t ignore advice to get renters insurance. In fact, join the party. Between 2011 and 2016, the percentage of renters with renters insurance rose from 29 percent to 41 percent.

Here’s why you need it:

• It provides insurance for your stuff. Most rental companies have insurance to cover their property should it be damaged. In other words they cover the building you live in, but not any of your belongings inside it. So if there’s a fire and your belongings get damaged, you’re basically out of luck without renters insurance.
• You also need renters insurance or liability coverage to cover any damages in your apartment, whether they’re accidental or a result of negligence. If something terrible happens, let’s say a leak that affects your apartment and your neighbor’s, you could be in big trouble with renters insurance. Without it, you may very well get stuck with bills for repairs, medical bills and even defense costs if you go to court.

If you’re getting renters insurance, get an exact rundown of what it covers.

• Renters insurance offers protection for your things in case of most accidents, but most of them don’t cover loss due to a natural disaster. Depending on where you live, you might need extra coverage to cover that.
• Renters insurance also covers liability for negligence, but not for anything where injury is intended (like if you try to damage your neighbor’s property).
• Renters insurance also covers loss of use if an accident occurs and you have to leave your home because an accident happened (think something like a tree crashing through your roof).

If you’re in need of renters insurance, you might be wondering how much you need and how much it will cost.

• Many landlords require a policy of at least $100,000 in coverage, but that’s not a hard and fast rule for everyone. If there isn’t a guideline, talk to an insurance agent about how much you might need.
• As far as cost, talk to an insurance agent you already deal with. Chances are good the insurance company you have car insurance or life insurance through can also put together a renters insurance policy. Of course policy costs are going to vary depending on where you live, but, generally speaking, a renters insurance policy shouldn’t cost more than $20 a month.

Renting an apartment comes with plenty of benefits, but you want to be sure to take time to find a reputable company or landlord who can walk you through your options and give an idea of exactly what you’re in for. To get started, Apartment Finder can help in your quest to rent an apartment in your area.