Applicants who are approved will need to provide proof of renter's insurance for the apartment. There are two ways to fulfill this requirement. One way is to purchase renters insurance, the other is to purchase Landlord's Required Resident Liability Insurance (LRRLI).
Renters insurance can be purchased from the same company that insures your vehicle. All prospective tenants for an apartment must be on one policy or have separate policies. Renters Insurance covers your belongings and must provide $100,000 of liability coverage to the apartment complex.
Landlord's Required Resident Liability Insurance can be purchased for only $9.50 a month from the landlord to cover the apartment. This insurance will cover all tenants liability for the apartment. It does not cover your belongings