Homeowners Insurance and Renters Insurance are types of property insurance that protect against financial losses related to your home or belongings.

 Homeowners Insurance:

• Covers: The structure of your home, personal belongings, liability for accidents, and additional living expenses if your home becomes uninhabitable.

• Common Risks: Fire, theft, storms, vandalism, and certain natural disasters (though floods and earthquakes typically require separate policies).

• Who It's For: Homeowners who want to protect their property investment and guard against unexpected repair or replacement costs.

Renters Insurance:

• Covers: Personal belongings, liability (e.g., if someone gets injured in your rental), and temporary living expenses if the rental becomes uninhabitable.

• Excludes: The structure of the rental property (this is the landlord's responsibility).

• Who It's For: Renters who want to protect their belongings and avoid liability costs in case of accidents or damages.

Key Differences:

• Ownership: Homeowners insurance covers the building and belongings, while renters insurance only covers personal property and liability.

• Cost: Renters insurance is typically much cheaper because it doesn’t cover the structure.

Both types of insurance provide peace of mind and financial protection against unexpected events.