Although renting a property is not usually subject to the same liability as owning a property, renters can still benefit from property insurance and renters can purchase separate liability insurance. Renter’s insurance typically covers the cost of replacing personal items that are stolen, damaged, or destroyed. Additionally, renters, like owners, have potential liability to anyone injured on the occupied property. Renters’ insurance policies are similar to homeowners’ insurance policies but have no coverage for buildings or structures. Although renter’s insurance is not usually required, by the terms of some leases, tenants may be required to have insurance to cover their liability exposure if someone is injured on the premises, or if damages occur from items owned by the renter, such as waterbeds. And, the landlord can, in fact, require the renter to have liability insurance. When signing a new lease or after proper legal notice for a month-to-month rental agreement the land-lord can even lawfully change the terms of the agreement to require renter’s insurance. This may be particularly important if the renter has animals or the property contains a pool. The landlord’s insurance will probably not cover tenant property losses unless the tenant can specifically demonstrate that the landlord was negligent in some manner.