Renters Contents Insurance

Renters insurance is an insurance policy that provides some of the benefits of homeowners insurance, but does not include coverage for the dwelling or structure, with the exception of small alterations that a tenant makes to the structure.  It does provide liability insurance and the tenant’s personal property is covered against named perils such as fire, theft, and vandalism.  This insurance is significantly less expensive than a homeowners policy.  Why is this coverage needed?  The owner of the building is responsible for insuring the dwelling itself but bears no responsibility for the tenant’s belongings.