Landlord requires renters insurance up to $1MM - can't find policies that go that high. Any advice?

[adc1990]

Hi there,

I recently signed a lease for a new apartment (NYC if that helps) and as part of the lease the landlord requires renters insurance. However, he requires $1MM in the liability provision and to add him as an additional insured (see quote from the lease below).

I'm having a hard time finding companies that will go up to the $1MM liability, most seem to cap out at $500k, and the ones that do go that high don't seem to let me add anyone else as an additional insured. Any advice/tips? This is my first time looking into renter's insurance so any advice is appreciated.

1. Tenant is required to maintain a renters’ insurance policy containing enough coverage to meet or exceed the value of the tenants’ personal property maintained in the apartment. Policy must also contain a liability provision for no less than $1,000,000 (one million). Tenant agrees to list ____(LANDLORD) ____ as an additional insured party.

 

[thebrittschmitt]

@adc1990 Me myself - I would just redline it and ask them to change it to 500k. Unless they can find you some insurers that are able to provide you with a reasonable (sub $50) quote.