Renter's vs. Rental Property Insurance

[Randal Shaffer]

Hey guys,

Newbie Rental investor here. I am prepping my first property for rent and I have a couple of questions that I'd like some opinions on.

1) I set up rental property insurance, but I disagree with the amount the insurance company wants to insure if for. I'd like opinions on your strategy for balancing monthly cost with overall risk of loss.

2) How do rental property insurance and renter's insurance overlap? I plan to require renter's insurance, but I don't want to waste money covering things in my property insurance that would be covered by the renter's insurance.

Thoughts?