If there are two separate families living in this house (owner & tenant), then two separate policies can be issued. Similarly, in case your tenant has taken up alternate accommodation within premises that are otherwise owned by you, you can also get two separate policies issued.
You can opt for an all-inclusive policy for both the structure as well as the contents of your house. Also, your tenant can also get a policy for the portion of the house he lives in along with his belongings.