Requiring tenants to have Renters Insurance

Requiring tenants to have Renters Insurance is just as important as collecting a Security Deposit!

As the property owner you may have recourse against a tenant’s insurance coverage if property damage is caused by a tenant’s negligence. This is not permitted if the tenant does not have their own renters’ coverage. A third party may be able to go after a tenant’s insurance coverage instead of your policy. This lowers claim frequency and helps keep your premiums as low as possible!

REQUIRE your tenants to have Renters Insurance (HO-4 Policy) to protect their Personal Property and provide them with Personal Liability coverage. With a renter’s policy, tenants can look to their own policy for coverage for their personal belongings in the event of a loss.

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