Depending on your unique policy, a renters insurance policy will cover your belongings in losses due to theft and vandalism, fire and smoke, lightning, windstorms, hail, and more. In addition to covering your possessions, your renters insurance will also typically include liability coverage, meaning that you will be protected in case of unintentional bodily injury and/or property damage. This coverage may also provide you with legal defense costs in these cases.Â