Final answer:
Renter's insurance provides coverage for personal belongings and liability, but it does not cover the property of the landlord.
Step-by-step explanation:
Renter's insurance is a type of insurance that provides coverage for your personal belongings in a rented property. It also offers liability coverage in case someone gets injured in your apartment. Therefore, option B is not true.
Renter's insurance covers not only your own property but can also cover additional living expenses if your apartment becomes uninhabitable due to a covered event. However, it does not cover the property of your landlord. So, option C is true.
Although renter's insurance premiums are generally lower compared to other types of insurance, it is not accurate to say that most people who need it have renter's insurance. Having renter's insurance is a personal decision and not everyone may choose to purchase it. Hence, option D is not true.
Therefore, the correct answer is option C: Your renter's insurance covers only your own property, not the property of your landlord.