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Insurance is there to protect parties and individuals that result in loss from events of unforeseen circumstances.
As a Landlord, I recommend to purchase rental insurance. Make sure to review the policy and know what it covers - liability, contents, betterments and water leakage (this is HUGE and cannot be overlooked)
As a Tenant, I recommend to purchase tenant insurance to cover your own personnel contents and incidents that may displace you or any liability issue.
Here is the one problem I see, Landlord can try to enforce the tenant to purchase their own insurance but in this day of an age it's up to the discretion of the tenant themselves to purchase their own insurance policy. A landlord may include this in the RTA but this may also be a adverse factor to get the unit rented.
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ATTACK
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