Can a Landlord make me get renters insurance to cover my personal property?

[sunburn731]

I live in Austin, Texas...and here is my question.

By law, can a Landlord make you get renters insurance to cover your own personal property?
I live in an apt complex, and the apt complex sent me a letter saying I needed renters insurance to resign the lease, they are requiring $10,000 of property insurance. I told them I don't have $10,000 worth of stuff to insure so I got $5,000 to insure my personal property.(which is all i need to cover my stuff) They are still requiring me to get $10,000 worth when I don't even need to. By law are they allowed to make you get a minimum amount of renters insurance? I have more than enough for liability insurance but they still want me to get $10,000 for personal property.

Thank you...

 

[las365]

Hey, I also live in Austin, and I also am required by my apartment complex to carry renters insurance. I had always known I should get it, but just never did until they started requiring it.

A little over a year later, my almost-new laptop was electrocuted and killed quite dead by a lightning strike. I was actually using it at the time A couple of weeks later, I got a nice big check from my insurance carrier and bought a new laptop that I love even more than the old one.

So the moral of the story is that you don't need $10,000 worth of stuff to make it worth it to carry a $10,000 personal property limit on your renters insurance. Besides, if you did have to replace everything you own due to a fire, you could easily spend $10K.

 

[Some Random Guy]

By law are they allowed to make you get a minimum amount of renters insurance?

There is no "law" about this. It is a simple contract matter. If you want to participate in the lease (contract) and live in the apartment you are required to pay rent and get insurance. Frankly, the renters insurance is so cheap, there is no reason not to get $10K in replacement value coverage. Replacement coverage gives you enough money to replace your items - not the depreciated value that you could get for your stuff at a garage sale.

 

[ErinGoBragh]

Just to give you an idea of the cost, I was quoted $120 for a year for $20,000 worth of insurance.

$14 down payment.

It's almost cheaper than dirt.

 

[Country Living]

Hey, I also live in Austin, and I also am required by my apartment complex to carry renters insurance.

Did your landlord require a minimum amount on the liability portion of the renter's insurance? I'd think he/she would be more interested in that section and the tenant's personal property coverage.

Renter's insurance is so inexpensive.

 

[moburkes]

Did your landlord require a minimum amount on the liability portion of the renter's insurance? I'd think he/she would be more interested in that section and the tenant's personal property coverage.

Renter's insurance is so inexpensive.

Agreed.

Op - Yes, they can require it, and only an idiot would go without.

 

[CraigFL]

You can get $10,000 insurance with $5,000 deductible too....

 

[efflandt]

In an apartment complex I used to live in (not my building fortunately), someone came open at 3 in the morning, turned on a french frier and fell asleep. The fire burned a number of apartments. I imagine the occupants of those other apartements had some losses and the responsible party was likely liable for much more than $10,000.00.

A neighbor below me had a pizza fire once (left something in the gas broiler under the oven when cranking up the oven for a pizza). Fortunately it was contained within the oven and just generated a bunch of smoke. When you start hearing smoke detectors and a fire truck drives up to the front of your building, it can be alarming, but then it may be too late to think about insurance.

 

[moburkes]

In an apartment complex I used to live in (not my building fortunately), someone came open at 3 in the morning, turned on a french frier and fell asleep. The fire burned a number of apartments. I imagine the occupants of those other apartements had some losses and the responsible party was likely liable for much more than $10,000.00.

A neighbor below me had a pizza fire once (left something in the gas broiler under the oven when cranking up the oven for a pizza). Fortunately it was contained within the oven and just generated a bunch of smoke. When you start hearing smoke detectors and a fire truck drives up to the front of your building, it can be alarming, but then it may be too late to think about insurance.

The $10,000 will cover his personal property. There is no renter's policy with less than $100,000 for liability.