You might be thinking, doesn't the homeowner have the house insured? Absolutely, but the homeowner's insurance does not cover the personal belongings you have in the home. Renters insurance is insurance for your personal belongings and typically also covers you for liability and additional living expenses if the home you're renting becomes uninhabitable for some reason. Renters insurance can minimize the financial impact you would feel if something like a fire or burglary occurs.
We believe it's so important to have renters insurance that we require our residents to have it. If you choose not to purchase renters insurance you will be charged a monthly penalty of $14.95 which will not provide you with any insurance coverage.
Be sure your renters insurance policy lists "Progress Residential" as an additional interest and references this address: Progress Residential, PO Box 660121, Dallas TX 75266. All residents on the lease must be listed on the policy and your policy must have at least $100,000 of liability coverage.