Apart from covering the building structure and contents, home insurance also provides coverage for situations in which you might be legally held responsible for. For instance, if a visitor trips over a carpet while walking in your home, you might be held responsible for the accident as an owner.
Personal liability coverage is especially important for renters, as you might be responsible as a tenant if, for example, you break a vase that belongs to your landlord. That's why buying home insurance for renters not only protects your personal belongings but also shields you from potential legal liabilities.