A happy insurance surprise

One more step toward becoming a renter.  I checked into my apartment's requirements for renter's insurance today and was told that they require $100,000 in personal liability insurance plus whatever property coverage I choose. This seemed a little steep to me but maybe they are concerned about people falling off the balconies. Whatever??? I called my insurance agent and explained what I needed. He said their standard renter's insurance policy included $300,000 in personal liability so that part sounded ok.  Then he asked me how much property coverage I wanted. I suggested $10,000 but he told me their minimum was $16,000.  Ok, how much will all this cost? After working through the new computer system which his national franchise had mandated, while we chatted for about ten minutes about the weather and our grandkids, (he has been my agent for 33 years after all) and considering that I have never had a claim on my homeowners insurance in all this time, he finally came up with a number $142. A month??? No, no, $142 a year, about $12 a month. I'm liking renting more and more.