Is Homeowners Insurance More Than Renters Insurance? 
Yes . All things being equal , HO will cost more than an equivalent renter 's policy . Why ? Because HO covers the value of the dwelling and any external buildings as well as your personal property , and liability risks ; whereas the renter 's policy only covers your personal property , clothes , furniture , etc. . If you are renting a house or an apartment , condo etc. then you only need renter 's insurance , but if you own the property , you need home owner 's insurance . That 's the rule you need to follow . 