Liability protection:

 Many people associate renters insurance with the protection of their personal belongings but don’t realize that it also covers accidental damage done to someone else’s property. That’s where liability coverage comes into play — and it covers damage caused by you, your family and your pets. For instance, if your dog accidentally chews up your neighbor’s antique rug, your renters insurance policy should cover the costs. Liability protection also kicks in to cover medical bills if someone hurts themselves in your rented home.