you can expect the unexpected to hit Renters just the same as home owners. Both for example would have an exposure to fire and it may mean that the renter is more exposed to fire than a homeowner. With a renter you have no real way of knowing that the guy who lives below you smokes while going to sleep, but you are exposed to that.
Additionally you liability issues that actually may be greater than a single family insured customer because of something in your lifestyle that makes you more likely to be a danger to your neighbor> Back in the 1970's it was not uncommon to see young people using water beds. But you can imagine the problems that might ensue form a water bed falling apart in the way of creating a liability to the neighbor who lives below you.
Many apartment management companies have therefore have gone to requiring some level of protection you offer them with your renters policy.
That is a great question! There are two reasons why tenants would want renters insurance. The first benefits the landlord, and that is why they want you to have it - it lowers their insurance bill, which hopefully translates into lower rent for you. The second is that it protects you, in the event that a neighbor (or you) accidentally damages your apartment, and the things that you own. Unless you have a bundle of cash to replace and repair everything, your renters policy is a good thing to have. Thanks for asking!
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Additionally you liability issues that actually may be greater than a single family insured customer because of something in your lifestyle that makes you more likely to be a danger to your neighbor> Back in the 1970's it was not uncommon to see young people using water beds. But you can imagine the problems that might ensue form a water bed falling apart in the way of creating a liability to the neighbor who lives below you.
Many apartment management companies have therefore have gone to requiring some level of protection you offer them with your renters policy.