Insurance companies became gun shy.
The master policy will have liability insurance in it for shared spaces, like sidewalks, gutters and walkways.
If you have a party and someone injures themselves in your apartment, they could also sue you for their own injuries. Or if you accidentally overflow the bathtub, your landlord could hold you responsible for damage to the property based on your negligence. That's another good reason to have insurance.
As a condo owner, I would want to be sure my policy would cover the difference between my deductible and the condo policy's deductible, if I am required to use the building's insurance for something like a burst pipe. If their deductible is $1,000, and the deductible on your policy is $100, all you may have to do is kick in that $100 and your policy will add the subsequent $900.
You could save up to $300 on the annual cost of auto insurance.
They've been studying weather patterns and models and realize the risk is higher.
In a disaster situation, no company wants the state insurance department breathing down its neck.
Insurers are working as hard as they can to get these claims settled as quickly as they can and as fairly as they can. When all is said and done, it will be shown that the industry is not engaging in anything fraudulent in the resolution of these claims.
Renters insurance is very valuable. And for not very much money, it can save you from disaster.
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