It protects YOU and any other future endeavors.

Note, even if insurance pays for all the damage your property suffers, you still lose.

(Telephone Consumer Protection Act) and the DNC (Do Not Call) list regulations.Here's an introduction: https://www.compliancepoint.co... 

This will protect your personal assets, should something major arise.

If you changed the terms you advertised originally, someone could probably claim you did it to disadvantage an application from a protected class.

The county assessor says land value = $18,600I got an ACV policy from AllState with the following:Estimated Replace Cost (ERC) = $352,621Dwelling Protection = 175,000Deductuble = 1KSo assuming after renovations market value matches the dwelling protection of $175,000$175,000 - $18,600 (land value) = $156,400 (ACV)Subtract ACV from ERC: $352,621-$156,400 = $196,221 (amount of depreciation)196,221/352,621 = .556 (percentage of depreciation)Does that math look right?

Arguably the process could be improved, but totally taking away protections is a mistake.

In some cases tenant's are protected by age/family status. 

Keep in mind the best assurance is the fact you are doing a good deal. all the agreements in the world won't protect them from losing money on a bad deal. 

If the Tenant refuses to participate then that demonstrates they are not subject to the protections afforded renters that were impacted by COVID.