Where are you?
I have been answering based on USA considerations.

SW FL Naples, Marco Island, Ft. Myer's and Tampa

Right now in the US, the "insurance drives the boat".
Any pilot transitioning into the Cirrus currently requires 10 hrs dual in
Cirrus for coverage under most rental concerns. Some of that is the
"glass
software", the other is the "slick wing performance" issues.

Oooh, no one mentioned that at the FBOs, thanks!


The Cirrus is more of a "machine" than a Diamond Star DA40 and would require
a higher checkout.
A primary student learning in a DA40 would (*should) meet all Insurance
requirements at the time of solo, or the FBO/Instructor is not doing his
job. Yes, it would be good to get renters insurance to at least cover the
deductible that you as a student would be responsible for if the accident is
your screw-up. It would be very difficult to get "Renters Insurance" to
cover the full hull value and lose of use of the aircraft.

BT