Some landlords force the issue and require their tenants to purchase renter’s insurance, some do not. It’s a personal choice.
For many, money is tight and spending extra money on insurance isn’t an attractive option for them, even though it’s fairly inexpensive … about $10-20/month, depending on what value you place on your belongings.
I make my own tenants aware that the owner has insurance on the building, but not their contents, and I leave the decision to them. But a few people I manage properties for have made renter’s insurance a requirement in their lease agreement. The tenant has to provide me with proof of insurance.
And this past year, a supply line for a toilet at one of those properties broke while the tenants were at work. Three rooms totally flooded, damaging several pieces of furniture. Those tenants were sooo glad they had that insurance!
The policy protects them in several situations:
- Flooding of the house due to rain or broken plumbing
- Liability — the dog bites someone, or a guest gets hurt at the home
- Many policies cover hotel cost in the event the tenant would have to move out temporarily
So although I don’t require it, renter’s insurance is probably worth the expense … just ask someone who’s had to submit a claim!