Since I have been helping a lot of rental clients, just want to strenthen here that always ask your renters to buy renters’ insurance. Although I understand that the owner’s policy cover the renter’s liabilities, but still when there is a claim, then the claim assesser might decide either the owner’s insurance to cover it or the renter’s insurance to cover the lost. Therefore, always have a renter’s insurance and ask them to have at least $300k liability coverage to avoid unnessecary huge cost in the future. This should be around $130 per year for the tenant, so it is not a big amount, but the owner will get great relief from it!
Always ask your renter to buy renters’ policy
February 27th, 2012 · No Comments · Uncategorized