I don't know where you live, but the regulations are similar in most parts of North America.
Under the Residential Tenancy Act {in British Columbia}, written notice stating time, date and purpose of entry MUST be given in writing, except in the case of an emergency [such as a plumbing leak ]. You are entitled to be present, and under NO circumstances can a building manager or owner "root through your stuff."
"Insurance purposes" means that the landlord or his representative is bringing an insurance agent to the premises to assess the liabilities {better tell your room mate to tidy up--it's just good karma, you know?} and figure out what the value of the building would be. If everything is in good shape, the cost of insurance stays reasonable. The agent may advise the landlord to make certain improvements, which may mean the rent goes up. Check to be sure if there are any limits to the amount of rent increases in your city.
As you mention the lack of complaints and fact that you're up-to-date on your rent, I'm assuming you are worried about getting evicted. Again, laws are pretty similar everywhere when it comes down to it. If you are doing everything you should, the landlord has no cause to issue an eviction notice. This too must always be given in writing and cannot be done for a trivial reason.
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