You are required to hold a renter's insurance policy with liability coverage for property damages and bodily injury caused by negligence. For example, if you run a bath, fall asleep, and flood your apartment as well as your neighbor’s apartment, you could be found liable for that damage. This would require you to pay for repairs, medical bills related to the accident, and possible defense costs if a suit were to be brought against you. Renter’s insurance would cover those costs.
The Personal Property portion of your renter’s insurance policy is optional but highly recommended. Our community insurance policies only cover damage to the actual dwelling. This leaves everything you own—electronics, furniture, and clothes vulnerable to loss. To protect your belongings in the case of fire, theft, or damage, including Personal Property in your own policy is recommended.