This renters policy provides financial protection against the loss or destruction of an insured’s possessions when he or she rents a house or apartment. Renters insurance is tailored to address the needs of a renter. These needs, naturally, differ from those of a dwelling or condominium unit owner who insure the real property. In the event of loss, the owner’s policy will not cover a renter’s belongings, but a renters insurance policy will. Like the homeowners and the condominium policies, the renters policy is a package policy. It provides coverage for household items in the event of fire, theft or other covered losses, and includes personal liability protection.