Portland, Oregon Renters Insurance requirements

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This question goes out to current Landlords and Property Management teams in Portland.  Recently I have been hearing a lot about owners requiring their renters to provide Renters / Tenant policies before they move in.   Who has this policy (suggestion) in place and what types of limits are they requiring?   

We have a clause in our lease agreements that requires tenants to obtain a renters insurance policy and also send us a copy of the declarations page every 6 months.

We don't specify limits, as the amount of coverage is largely dependent on the value of their belongings.

We also require a pet rider on the policy if they have a dog in the house. 

Our thinking is that forcing a renters insurance policy makes it less likely that the tenants would come after us in the even of some kind of property loss. I honestly don't know how much protection it actually provides us as owners though.

I am current hold a insurance license and can tell you renters insurance will not protect the landlord, it is for the protection of the tenant.  Mainly in three areas, their personal belongings, liability (if one of their guests were to hurt themselves) and media payments (if a guest was to hurt themselves).  The protection for a landlord comes from the liability on their own landlord policy and an umbrella policy if they choose to have one.  If someone has a landlord policy on their rental, I would alway suggest 500,000 in liability coverage and a 1 million umbrella policy.  On the renters side I would suggest that the renter have enough coverage to cover their personal belongings and at least 300,000 in liability and 5,000 in medial payments.

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