If my roommate and I rent an apartment, do we both need renter's insurance?

Both you and your roommate have your own belongings, and neither of you has insurable interest in the property owned by the other. In order to insure your property, you will need your own policy. More importantly, the renters’ policy provides Personal Liability coverage to protect you should someone become injured at your home/apartment, or if you accidentally hit someone at the golf course or trip someone at the restaurant.