Answer
Not necessarily both at the same time. When renting, a deposit and insurance may be required, or a separate insurance guarantee may be required, but a deposit and insurance are not necessarily a required pair in every transaction; this depends on the security arrangement.
The landlord usually wants payment security. This can take the form of an insurance or financial guarantee, a deposit, or another agreed arrangement. The specific option depends on the landlord, the contract, and the income documentation accepted by the organization.
Before paying, find out which guarantee the owner accepts, how much it costs, what it covers, and what happens if you leave early. A deposit, insurance guarantee, and furniture payments are better treated as separate obligations.