Does Renters Insurance Cover The Building? 
That is a great question ! Very simply , here 's how renters insurance works - your landlord -LRB- or their company -RRB- owns the building , and the risk of loss if something were to happen to it , so they have the policy covering the building . You own the stuff in your apartment not the landlord , so the risk of loss for your things is yours , per your lease agreement , thus the need for the renters insurance . Between both policies everyone is covered . Thanks for asking ! 