What Does Basic Renters Insurance Cover? 
A renters policy is essentially a homeowners policy that does not cover the structure . It has two basic coverages , Property Coverage which is designed to make you `` whole '' -LRB- within the definitions of the policy -RRB- should you have a `` covered loss '' and suffer economic loss in excess of the deductibleas a result . It also covers personal liability for bodily injury or property damage that the renter is liable for by law . 