It also covers the owner if you would get injured working on your rental property. 

It will not provide you with a defense or indemnity from claims made against you (i.e. a worker getting injured, a third party falling on your jobsite, or damage to a neighbor's property).

You want to be reducing not only chances for persons to be injured on your association grounds but also professional conduct liability issues that could increase exposure to the rest of the association.

I was recently injured on my last deployment and I am going to be receiving a $50,000 insurance pay out here in the next 3 weeks.

I was on the right path, however I missed a fair amount.My plan as it stands:Pay off as much debt as I can in the foreseeable future to raise my credit as much as possibleAwait my VA compensation amount ( got injured overseas, put it off until I heard it is considered "income")Finish up schoolMove to Virginia (looking for pointers on location)Hopefully grab a job QUICKLYBuy at least a duplexRent one side, fix the side I'm living inCharge more money for the upgraded side, offer it to current tenant at a higher rate, they can accept or moveFix the other sideRefinance on (hopefully) the difference of gained equityBuy another property off money made from equityRepeat     I plan to read as much as I can here, I try to avoid asking questions if they have already been posted.

It will help you sleep at night knowing that you have a million dollar liability coverage in case your tenant gets injured and is suing.I am still learning a lot about Cleveland as I acquire more and more property, but Lakewood is a nice area (for the most part) and there is some appreciation.  

With a rental, you will definitely want a rental property policy to help protect you from liability in the event that a tenant gets injured, etc.

Or if you're injured for example and can't work for 9 months...  

You could also get hit with a huge lawsuit if the units are not up to code and a tenant gets injured, or if a vindictive tenant turns you in.Get the seller to get a zoning exemption and make the duplex legal, or get a substantial price concession, so that the deal makes sense as a single family. 

@Jay Helms Interesting response considering that a landlord legally can be held liable in Florida if a tenant disables a smoke alarm and is then subsequently injured in a fire.