Why do some apartment complexes require tenants to have tenant insurance?
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 tenant insurance, the apartment owner is assured that the tenants will not mistakenly believe the apartment complex owner’s policy will provide coverage for a tenant’s property or personal liability. Although this type of requirement benefits that apartment complex owner, there are benefits to the tenant as well. We recommend that you purchase tenant insurance regardless of what your landlord requires.
