Renting house owner has no insurance?

If someone owns a house outright and doesn't mind losing it in the lawsuit (and has no other real assets to protect) then I suppose there is no requirement to having homeowner's insurance on it.

Any sane person would have insurance on it because they would need the financial protection if it burned down or someone got hurt on it. Even if they didn't need protection on the property, they likely have other assets that they would prefer not to lose in a lawsuit.

good luck!

ps - I couldn't rent from a person like that. If they didn't have enough financial sense to protect themselves, they don't know what they are doing or don't care what they are doing (which might even be worse).

There's no requirement that a property be insured whether it's rented or not. The contract with the renter however, obligates them to maintain the property to livable standards and to fix any issues that affect your rental space. The property contained in your apartment (your prosessions), is your obligation to insure. Your landlord has no obligation to insure or cover the value your personal possessions.

Renters insurance DOES cover personal injury AND liability. So if anyone is visiting you and falls down the stairs, YOU need to be covered. NOT the landlord.

A Landlords insurance usually provides "Liability" and "Medical Payments" coverages for injuries that occur on the premises. The "Liability" coverage would pay if the landlord was somehow at fault for your accident. For example, if there was a defect in the floor that caused you to fall or something like that. The "Medical Payments" section of the landlords policy usually excludes coverage for tenants. Unfortunately, if you just fell and it was not as a result of your landlords negligence, his insurance company will probably not make any payment to you.

I don't think they are required that's why most ask you for a security deposit..