Renters’ insurance is often also known as tenant’s insurance.

It is an insurance policy that provides some of the benefits of a homeowner’s insurance policy, but does not include coverage for the dwelling, or structure, with the exception of small alterations that a renter/tenant makes to the structure. The policy provides liability insurance coverage as well the tenant’s personal property is covered against named perils such as fire, theft, and vandalism. The policy can also pay expenses when the dwelling becomes uninhabitable. Due to renter’s insurance existing mainly to protect against losses to the tenant’s personal property and provide them with liability coverage but not to insure the actual dwelling, it is significantly less expensive than a homeowner’s policy.

Who is responsible to insure the dwelling?

The owner of the building/property is responsible for insuring the dwelling itself but bears no responsibility for the tenant’s belongings.