What type of insurance protects renters from loss of personal belongings?

Renter's insurance is specifically designed to protect individuals who are renting property from loss or damage to their personal belongings. It covers a wide range of unfortunate events, including theft, fire, or other disasters that might affect the tenant's possessions. This type of insurance also typically includes liability protection in case someone is injured within the rented unit.

In contrast, homeowners insurance is meant for people who own their homes and covers the structure of the home as well as the belongings inside it. Life insurance provides financial assistance to beneficiaries upon the policyholder's death, and auto insurance protects vehicles against damages or losses. These other types of insurance do not address the needs of renters concerning their personal property, making renter's insurance the appropriate choice for covering losses related to personal belongings in a rental situation.