Many apartment communities in the greater Austin area are now requiring renter's insurance. Renter's Insurance is something we recommend that every renter have, whether the apartment requires it or not. It is very affordable and really for your protection. Renter's insurance not only protects you and your things from a "natural disaster" such as a flood from the apartment above or an even larger natural disaster like a hurricane, but also an accidental disaster such as a fire. After all, you never know if the neighbor above is a novice chef or not!
Many Austin apartments will require ‘$100,000 in liability insurance’, although some will require as much at $300,000. You may be inclined to think "WHOA, that's a lot and probably costs a fortune!” Don't be alarmed. That is the amount you will be required to obtain in liability, which means the amount of damage the renter’s insurance will cover if damage occurs under the restrictions of the policy, and is relatively affordable.
The first place to consider obtaining your renter's insurance is through your auto insurance. Most companies will offer a discount for having 2 policies with them and in the end your increase becomes minimal. Again, while it is required through most communities, it is for your protection. If the unthinkable does happen, you'll be glad you have it!