BOSTON -- Residents displaced by fire have some options when it comes to renter's insurance, according to NewsCenter 5's Susan Wornick.

Many people don't think about homeowner's insurance when they are renting because they assume the property coverage will protect them. It won't. Sometimes, people are concerned that it is expensive. It isn't. Homeowner's insurance is something every renter should consider.

First of all, renter's insurance is considerably less expensive than property owner's insurance. For example, you can get $20,000 of coverage for an annual premium of about $175.

The typical policy of course covers personal belongings, such as furniture and clothing. It also includes money to replace things such as medication and all health and beauty products. It also provides money if you have to stay in temporary housing while your rental is being rebuilt.

It includes liability coverage, in case something happens to someone else in your home. It is recommended that renters seek out a licensed professional insurance agent.

Massachusetts is the only state in the nation that provides money for fire victims who do not have insurance. You can get $750 to cover immediate expenses. You can get an application from the Red Cross.