Big Fire in San Francisco yesterday, one block from where I live. First thing my business partner said, "I'll bet they are all under-insured." (You can donate here.)
You may take this as a sales pitch, and partially, that's true. For a few hundred bucks a year, every renter displaced yesterday could have a check for $25,000 coming to them today.
Imagine how you would feel knowing that money is on the way: considering all your stuff is smoked up, or burnt up, and you're crashing on your exes couch. Think you'd feel relieved?
Renter's Insurance is cheap, and yes, you most likely will never file a claim. I'm sure that's what every person who lost their apartment yesterday believed too...