Which property policy is specifically designed for tenants?

Renters insurance policy is specifically designed for tenants who are renting their living space, such as an apartment or a house. This type of insurance typically covers personal property belonging to the tenant in the event of theft, fire, or other covered perils. It may also provide liability coverage, protecting the tenant against claims resulting from injury to others or damage to their property while on the rented premises.

Unlike homeowners insurance, which covers the structure and contents of a home that the owner occupies, renters insurance focuses exclusively on the tenant's personal belongings and doesn't cover the physical building. Additionally, property insurance usually refers to a broader category that can include various types of policies and is not specific to tenants. Commercial property insurance is intended for businesses and covers different types of risks associated with a commercial space, making it unsuitable for tenants in residential situations. Thus, renters insurance is the tailored solution for individuals renting a home, as it accounts for their unique needs and circumstances.