Renters' insurance is an insurance policy that provides benfits to a person renting a house or condo.
Renters insurance provides coverage for liability and personal property. The owner of the property would bear the responsibility of insuring the property itself, but has not duty to cover the personal property of their tenant. Also the tenant has the responsibility if someone was harmed on the premises. Although the owner should have liability coverage for themselves, the tenant could be responsible as well.