The HO4 policy, often referred to as Renters Insurance, covers damage of personal property owned by the tenant. The HO4 does not cover the actual dwelling that is being rented. The renter's policy not only covers your belongings where you reside, it also covers them when you travel.
If the dwelling which you rent is damaged by a covered peril, then your renter's policy will help pay for alternate living arrangements. You can also purchase liability and medical payments coverage to protect yourself if a guest in your rental home is accidentally injured.
