American Idol Final 24

The country’s next American Idol just moved to LA. So did 23 of his or her closest competitors. 

Fox's (NWS) top-rated reality contest announced the final 24 singers who earned the approval of judges Paula Abdul, Simon Cowell, and Randy Jackson, on Wednesday. This year they include dreadlocked Jason Castro from Dallas, Texas; rock-and-roll nurse Amanda Overmyer from Mulberry, Indiana; and Carly Smithson a crooner from Dublin, Ireland, who made it to Hollywood in American Idol's fifth season, but left due to visa complications.

A full third of these finalists are teens, and like many Idol contestants before them, the Idol Hollywood experience will mark their first time living away from home. And while American Idol's producers will pick up the rent for these newbie's, when you are leaving your parent's house for the first time, scoring renters insurance should be on the top of your list.

“Renters insurance is especially important for young people just starting because, aside from vehicle insurance, this is their first exposure to taking responsibility," says Jeff Calderon, an insurance salesman for Allstate. According to a 2006 poll by the Insurance Research Council, 96% of homeowners had homeowners insurance while only 43% of renters had renters insurance.  The Insurance Information Institute also reports that rented houses are burglarized at rates about 50% higher than owned households.

According to Zack Ordynans, an agent with Nationwide Insurance, a building owner or landlord’s insurance policy does not cover the personal belongings of tenants. When renting an apartment or house, renters insurance is needed to protect you and your property. Renters insurance policies generally cover fire, theft, and weather damage as well as personal liability, meaning injury or property damage caused by the tenant, replacement or repair costs, some water damage, the loss of jewelry, watches, furs, firearms and accessories, and the loss of securities.