Can An Apartment Require You To Have Renters Insurance?

  1. 1615 POINTS
    Ryan Andrew
    President, The Andrew Agency, Richmond, VA
    Yes, and they should. Renters insurance is very inexpensive and it protects your belongings and provides liability coverage in the event you cause damage due to negligence. The apartment complex is concerned with liability coverage because they want to get reimbursed for damages and most people do not have enough money to rebuild the building.
    Answered on June 12, 2013
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  2. 2210 POINTS
    Brenda Hanson
    Vice President/Agent, Best Rates Insurance Inc, Kalispell Montana
    Yes they can require you to have it or they can choose not to let you rent. There are many reasons why they require it. If there was a fire that you accidently caused they would like the damages to be repaired. The cost for renters insurance covers your things in a apartment if there was a fire and not your fault the building owners policy would not cover your items. Renters policies are usually around 100 a year well worth the coverage
    Answered on June 13, 2013
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