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I was told by a apartment complex that I had to have $ 3,000,000 worth of coverage in my policy. Is this amount allowed by law? I’ve never heard of such a large policy amount for renter’s insurance.

BTW, I live in north Texas.

3 Thoughts on How much renters insurance coverage are apartment complexes allowed by law to tell the renter they have to car?
  1. Reply
    June 20, 2011 at 1:36 pm

    I think you’re misunderstanding.

    First, Three MILLION dollars? maybe for a liability limit, but that’s absurd for property coverage. And I’d guess that you added an extra zero, that it’s actually $ 300,000 in LIABILITY coverage – and on a renters policy in North Texas, that total policy should cost you around $ 150 a year.

    Second, laws tell you what you CANNOT do. Insurance complexes can require anything they want, and if you don’t want to comply, you live in a different complex. They CANNOT give different standards to different renters.

    So there’s no upper limit, what they can require as a condition of living there. And you don’t have to live there, if you don’t like the conditions.

  2. Reply
    June 20, 2011 at 2:10 pm

    There are no laws. It’s a matter of what is in your lease.

  3. Reply
    June 20, 2011 at 2:56 pm

    I’m pretty sure that they meant $ 300,000. For $ 3000000 you would have to get an umbrella policy in addition to a renters. That limit is not offered. But yes, they are allowed to make you get renters insurance. It’s a good idea too, otherwise your stuff wouldn’t be covered if something happened to the building.

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