Renters insurance doesn't just protect tenants; it's useful for landlords if they need to cover a tenant's losses caused by someone else. This article examines the many reasons why it’s a good idea to require that your tenants take out renters insurance. Landlord insurance premiums —Insisting tenants take out renters insurance can lower your premiums. Tenants who have renters insurance are more likely to accept part of the blame and claim on their insurance policy. Related: 4 Tips to Deal With Water Damage in Your Rental PropertyHow Should Landlords Request Renters InsuranceAccording to the Insurance Information Institute, landlords have the right to request that tenants purchase renters insurance.