If maintaining a specific limit of liability on a renters insurance
policy is required by your property manager as part of your lease then there probably isn't any way around it. That being said, the liability coverage you select on your renters insurance coverage is intended to cover you for damage or injury that you may cause. It's a good idea to carry as much coverage as you can to make sure you don't have to pay out of your own pocket if you were sued. If you have no assets then it may not be necessary to carry coverage limits that high, but in your situation it doesn't sounds like you have much of a choice. Luckily, most renters insurance policies are fairly inexpensive even with limits that high.