It's a wise move to protect your posessions and yourself.

As a resident, you need renter's insurance. While a property owner will most likely have insurance to cover the physical structure of an apartment building, that insurance does not cover the belongings of individual residents. Moreover, it doesn't provide you with liability protection.

Consider the value of your possessions and your ability to replace them if they are destroyed. If a disaster occurs, renter's insurance can help soften the financial blow.

More importantly, if a fire or other disaster occurs as a result of your negligence, you can be held liable for the cost of the repairs and can face the potential of litigation; without insurance you put yourself at unnecessary risk, but many renter's insurance policies can be written to help cover those liabilities should they arise.

Not only is renter's insurance a good idea, sometimes it is a requirement for your lease. Equity Residential rolled out a program that includes renter's insurance as a lease requirement; residents who are accepted to lease an apartment must have proof of liability insurance when they sign the lease and when they renew.

Equity rolled out the program in November of 2004; Mike Bodin, the company's Regional Supervisor, said that the program has been well-received by residents. Residents are required to maintain $50,000 in liability coverage; in addition, many residents elect to also acquire coverage for their personal property.

Equity refers residents to insurance agents or a national company that writes insurance policies for residents. Bodin said, "The agent who has your auto insurance policy can probably write a renter's insurance policy."

In addition to your your auto insurance provider, the Texas Department of Insurance can also prove to be a worthwhile resource. You can visit online at http://www.tdi.state.tx.us/or write:

Texas Department of Insurance
P.O. Box 149104
333 Guadalupe
Austin, Texas 78714-9104