POSTED: Monday, July 7, 2008 -- 7:45pm

14-apartment units suffered damage in Friday evening's fire at Fitchburg Springs on Leopold Way. Just one tenant, out of those 14, had renters insurance.

Renters insurance is one of the least expensive insurance options out there, as low as $100 a year in some cases. Agents say money well spent for the added peace of mind.

"It's just a blessing it didn't destroy my family's things," says Derrick Prather.

Derrick's apartment was spared by the fire. However, had the flames spread to his home, anything destroyed would have been his responsibility to replace. Derrick does not have renters insurance.

"We just moved in," he says. "Not even thinking about taking that extra precaution like that."

"Everyone who is renting an apartment should have renters insurance," says David Scher, an agent with American Family Insurance.

"The perception, for tenants, is that the landlords take care of everything," says Scher.

But, that's not the case.

Scher says your personal belongings are your responsibility to protect from fire, wind, vandalism and the like.

"To replace everything that you have, from your socks to your kitchen appliances, is very expensive when you think about it," he says.

Scher says go room to room and add up the value of your possessions. He says $16,000 to $20,000 in coverage will cost you around $10 to $15 a month.

"When you compare that to the value of coverage, it really is a no brainier," adds Scher.

"It's opened our eyes and I heard renters insurance isn't that expensive, so we're definitely going to get it now," says Derrick.

Renters Insurance not only covers your belongings, it also covers temporary living expenses if you are displaced and includes liability protection.

Most insurance companies offer a discount if you add renters insurance to an existing auto policy.