One Snarky Chica with Issues

Today I got a notice on my door about renewing my lease at my apartment complex. I’m not going to as I’ve been planning on moving someplace with a lower cost of living. I looked through the papers anyways and was surprised to see a new requirement of renter’s insurance. But it wasn’t just for regular renter’s. Nope. You also have to get $100,000 worth of liability and add the complex as an “Additional Insured” on the policy. Frankly, I don’t even know how this is legal. So, I looked it up.

Apparently apartment complexes are starting to do this and if you cause a fire or a leak or something then instead of them having to use their high deductible insurance to pay for the damages they take it out of your liability insurance. This saves THEM money in the long run. I even found a case study online from eRenterPlan that touts how great this is for the apartment complex. Of course, eRenterPlan sells renter’s insurance and partners with these complexes. In fact, they were named on the paper from my apartment complex office. I still am fuzzy on how exactly this is legal. One this is for certain, it really turns my stomach.