| Why do some apartment complexes require tenants to have renters insurance |
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Q: Why do some apartment complexes require tenants to have renters insurance? A: Owners of apartment complexes buy insurance policies for their liability and to cover their buildings and personal property. However, these policies do not cover any of the tenant's property or liability. By requiring their tenants to have renters insurance, the apartment owner is assured that the tenants will not assume the apartment complex owner's policy will provide coverage for a tenant's property or personal liability. Although this type of requirement benefits the apartment complex owner, there are benefits to the renter as well. We recommend that you purchase renters insurance regardless of what your landlord requires. |
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