I assume you're talking about for yourself, not necessarily for tenants that are renting from you? Definitely worth it. Anecdotally, my tenants caused a fire at our rental property and though it was an accident, they had to leave the house for a while for it to get fixed up. Their renters insurance covered all their belongings, their hotel stay, and the rent that they were required to pay even while they weren't living there. You may never need it, but if you do you'll be glad you have it.