Renter insurance question

The place wants you to have at least $50k personal liability insurance and you have $500k liability? Is that correct? They probably want that as a minimum, but having more isn't a "bad" thing if it's affordable.

And no, their insurance likely will not cover the tenant in a liability case. But check locally please. 

Pretty much what I was thinking. Check to see what the difference in price is. This day and age 50k is pretty low. Get a price for 100, 300, 500 and make an informed decision. Make sure you have the correct amount for your personal property listed for what it would cost you to replace everything.

Having more than the minimum isn't a problem.  There's a reason the $500K coverage is only $6 more than the $300K coverage and that's because there is very little additional risk to the insurer.  Liability coverage helps protect *your* assets if someone gets hurt while visiting you.  Unless you have a lot of assets to protect, the additional coverage won't make a big difference. 

Ok, you said Personal Liability before, not fire. Which are they requiring the $50k on? 

its personal liability.  Sounded like if we burn the place down or try to and there is water damage we might get sued and they that should cover it. 

Good call Chi.

I always recommend higher liability for people in apartments. If you burn the place down and get sued the $500k will be worth the $6.