A thousand times, yes. You'd be insane not to carry at least a half million dollars in coverage for fire loss in a city like San Francisco. I think my own rental insurance covers something like $1M, and they explicitly don't cover losses incurred to property that I'm renting to others. That's another class of insurance -- much more expensive, because the risks are so much higher.

I think you have to be incredibly naive to rent out your personal apartment on AirBnB. The downside risk is virtually unbounded (and lest you think I'm exaggerating: what happens if a tweaker AirBnB renter burns down your building, and your neighbors die in the fire? Hello, civil judgment.)