I am househacking and renting out my extra bedrooms. Originally I was told to require all tenants to obtain renter's insurance, but I have had prospective tenant's object to this idea because they are mostly college students who own few items of material value. Should I mandate that my tenant's in my househack obtain renter's insurance? If so, why when they are college students who have few material belongings?
Renters insurance does cover their belongings but more importantly it covers liability. Should a tenant get injured, or if someone’s visiting your tenants gets injured, the renters insurance will pick up the liability (normally around $100k coverage) before they attach to your homeowners liability coverage.