homeowners insurance (versus renters insurance)

Homeowners insurance provides financial protection for your house and belongings if they're damaged or stolen, and covers liability if someone is injured on your property. It’s essential for homeowners, since it protects the structure and personal assets. Renters insurance, on the other hand, covers your personal belongings and liability within a rented space but does not cover the physical building itself. In short, homeowners insurance covers both the structure and possessions, while renters insurance covers only your personal property and liability, making it suitable for tenants.