Homeowners insurance covers the building and your belongings; renters insurance covers only your belongings and liability, because the landlord insures the building.
By the Home & Dime Editorial Team · Updated 2026
Renters insurance
- Your belongings, liability, loss of use.
- Not the building.
Homeowners insurance
- The structure + belongings + liability.
Frequently asked questions
Which is cheaper?
Renters — you’re not insuring the building.
Do both cover theft?
Yes.
Related guides
Sources: Insurance Information Institute (iii.org); Consumer Financial Protection Bureau; FEMA; state Departments of Insurance. General information, not insurance advice.
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