Renter's Insurance? (Atlanta, Columbus, Marietta: apartment, home owners insurance, home)

[cello700]

I've been asked by property management to secure renter's insurance as a condition to living on the property.

I've never run into this before but I've for the most part owned most of my life.

Is this routine? Does requiring it say 'something' about property safety?

It would be greatly appreciated if folks who perhaps are long-term renters and perhaps have lived at a few different properties can post their experience here.

Thank you.

[lorilove]

Renters insurance is an absolute must and relatively not that expensive. If something were to happen to the building that you are living in, their insurance would cover the property only and nothing of your belongings. You would have zero coverage! Renters insurance covers you.

It has been 18 years since I needed renters insurance but back then it was only $75-100 per year.

Think about when you hade home owners insurance, the policy had separate coverage for the dwelling and the contents. In a rental situation, the property manager carries the dwelling insurance and you as the renter need to carry the content insurance.

[rabernet]

The apartment community that I live in, in Marietta requires renter's insurance. I just added it as a rider with my car insurance company.

The apartment community that I'm moving to in Columbus, GA does not require it, but I plan to keep it.

[lastminutemom]

As the rental market has improved, I have seen more and more complexes and individual owners who rent out properties require this.

It is a great idea (not just a good one) even if it isn't required. You have virtually zero protection as a renter if something like a fire should happen, if you don't have renters insurance.

[ATLTJL]

I had renters insurance since the first day I rented an apartment even though it wasn't required.

In fact, only the last apartment that I lived in actually required it. It was also the nicest place I lived. So just anecodotally, it seems like the nicer properties that have their acts together are the ones that are starting to require it. I'm not so sure exactly why they care, I guess there must be some liability in there too so if you accidentally leave your stove on and burn the building down they can go after your insurance company.

It also benefits you because if your idiot neighbor burns the building down, your insurance company will have someone to go after too. I don't know if it necessarily says anything good about a property for requiring it, but it certainly doesn't say anything bad. I think it mainly indicates they are going after a higher quality resident.

[neil0311]

Hard to believe you need to ask. Whether or not anyone "requires" you to get renter's insurance, you should do it for yourself. With the seeming epidemic of apartment fires here in Atlanta, you'd be stupid not to get it. The cost is very low, and your assets are protected.

Otherwise, if your apartment burns down, you are left with nothing. The complex has no responsibility to replace your valuables or any contents of your apartment. You would be on your own.

[anothertntony]

It is fairly routine. The complex doesn't require it because they care about your things; they care about the liability insurance that your coverage will provide. As other said, you should carry renters insurance even if not required (and even if you do not own much, again because you need the liability protection).

[cello700]

Thanks for all of your useful comments with one exception. I'm new to ATL. No need to be snotty neil0311 and yes it's easy to sit behind a computer anonymously and exercise your haughtiness. The question related to the mandatory nature of the request and NOT whether or not I wanted to pursue insurance. Next time read first and be nasty---much later.