Do you need insurance if you're just renting an apartment?

I know insurance is important for property owners, but what about renters? Do I need to shell out for insurance as an apartment renter?

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Savannah Grabek
Answered on Mar 12, 2021
Savannah Grabek is an expert in Personal Lines insurance. She has 5 years experience in the insurance industry. Savannah began her carrier working with just property insurance and is now tenured in all personal line including home, auto, motorcycle, boat and umbrella. She previously worked for GEICO and has now been working with Jerry insurance for the past year. Savannah lives in New York with her son, fiancé, and puppy Bear. In her free time she enjoys spending quality time with her family and hiking with her dog.
It is not required by the state to carry renters insurance. However, your landlord can require you to carry renters insurance because of the liability coverage on the policy. Typically they require you to carry $100,000 in liability, which is standard for a renters policy.
The reason they require this is because if you cause significant damage to their property, the landlord has the right to sue you for damages. Your liability coverage will protect you by helping to cover lawyer’s fees to go to court and repair damage to the property.
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