Let’s break these two down.

Your personal property coverage covers the contents of the home you are staying in that belong to you. For example, I’m sure you’ve brought in furniture, clothing, electronics and much more into the place you’re living. These items are not covered under the landlord’s insurance policy which only covers what belongs to them.

Therefore, if the home were to be destroyed, you would have no way to recover the financial loss because of the destruction of your property. Renters insurance has this coverage built in, up to a limit that you choose.

Your liability coverage covers for incidents that you may be found liable for during your time renting the property.

For example, let’s say that during a cold night, leaky water from the outside faucet freezes over the back porch. If someone slips, falls and gets hurt, you may be found liable as the tenant of the property for their injuries. Most renters’ insurance policies have liability coverage built into the policy, again, up to a limit that you choose.

Be sure to speak to your insurance agent about your options for renters’ insurance.

Andrew Sargent is an insurance advisor with The Wright Legacy Group.