What Should Renters Insurance Cover? 
The coverages provided are for both contents and liability . When the contents of your residence are affected as a result of the stated policy perils , renters insurance will provide coverage up to the amount of insurance purchased and specified in the policy , less any deductible . Some of the important perils that are covered are damage/loss to personal property from : fire & smoke ; windstorm or hail ; water damage ; burglary & theft ; vandalism . With regard to the liability coverage , it is obviously very important also . It provides coverage for injuries and accidents that happen both within your residence and outside that might result from alleged or actual negligence on your part . It does not replace auto insurance however . 