If your apartment is vandalized or an accident occurs, having renters insurance will ensure replacement of your property. Here is an explanation from the Texas Apartment Association.
If you have renters insurance, your insurance should cover your losses, minus any deductible. If you don't have insurance, you'll be responsible for replacing or repairing your property. The property owner's insurance does not cover property belonging to residents; it only covers the property owner's belongings, buildings, etc. If the property owner or his employees negligently caused the accident, you may have grounds to recover damages from the owner, but you'll need to have legal advice.
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