Why Landlords Should Require Renters Insurance

Tuesday, February 12, 2013

If you are going to rent out property, you should always require renters insurance. As a landlord, it is your responsibility to request this of your tenants. Renters insurance not only protects the tenant and their belongings, but it protects you as well. You want to make sure that your tenants have the insurance they need in case something unfortunate happens. This makes the insurance company liable for the repair or replacement costs, rather than you.

Renters insurance covers personal property

Most renters insurance plans will cover the tenant's personal property. This generally includes damage, such as if a fire or flood was to occur, and it sometimes includes theft. It's very important that your tenants have this kind of protection, because it ensures that you do not have to foot the bill. You can be held liable if your tenant’s properties were to get damaged or stolen and they did not have renters insurance.

Renters insurance can cover medical expenses

If someone were to get injured while on the property, you could be held liable as the landlord. Renters insurance provides the protection that you and your tenants need to live worry free. Medical bills are one of the many things that are generally covered under a renters insurance policy.

Renters insurance provides liability protection

In order to live in your home comfortably, you need to know that you are protected against liability issues. If someone were to get injured inside your home or commit a crime, you shouldn't be held responsible for their actions. Renters insurance protects against these types of situations by providing liability protection for the tenant. Not only does this protect them, but it protects you as the landlord as well. This allows you to rent the property worry free, knowing that if worse came to worst, you would be covered and so would your tenants.

Renters insurance is inexpensive

Perhaps one of the more significant reasons why landlords should require renters insurance is because it offers so much protection and it's inexpensive. Renters insurance companies charge very little for their policies, primarily because these plans are rarely needed. The likelihood that someone will break into the home and steal things, or that a natural disaster will occur, is very low. This means that the insurance companies collect money from tenants that will never actually use the plan, and it makes their business more profitable. They are able to offer a lower rate on insurance because of this and it makes renters insurance plans highly affordable.


You Might Also Like

0 comments

Thank you for dropping by and sharing some love! You're lovely!

Maxi
Ovah Coffee
Homeaholic
Travels and Wish Lists

Labels

a Few Things in Between Accessories Aches and Pains Activities Adventure Advertising Aesthetic Surgery Airports Alcoholic Beverages Allan Pease and Barbara Pease Anniversaries Anterior Cord Syndrome Antiques Anxiety Apps ArtFire Arts And Crafts Astrology Attitude Auctions Australia Autumn Awards Baby Beddings Baby Items Baby Shower Bachelorette Party Ideas Bags Baking Baltimore Bath and Shower Bathroom Bathroom Accessories BB Cream for Hair Beaches Beachwear Beauty Beauty - Anti Acne Beauty - Confidence Beauty Box Beauty Routine Bedroom Bedroom - Beddings Bedroom Makeover Belts Bike Spots Biker Gear Biker Jackets Bikini Billing Systems Birka Birthday Ideas Birthdays Blackberry Cell Phone Accessories Blog Giveaways Blogger Blogging Blogging Tricks Blogiversary Blogroll Blu-ray Body Lotion Body Shapes Body Types Books Books - Relationships Books - Reviews Boots Boozt.com Botanical Gardens Botox Breast Augmentation Bullet Proof Clothing Bus Rentals Business Solutions Business Tips Cabin Cabin Rentals Cakes California Calories Calvin Klein Cameras Camping Canada Cape Town Car and Car Accessories Car Loans Car Rentals Cars Cars - Maintenance Cars - Modifications CBD Oil Celebrations Celebrities Chanti Cheap Meals Chocolates Christmas Christmas Gifts Christmas Gifts for Boys Cigars Cinemas Clocks Clothes Clothing Cocktail Parties Coffee Coffee Hacks Coffee Shops Collectibles Commercial Lease Contact Lenses Contacts Cooking School Cosmetic Dentistry Cosmetic Surgery Cosmetics/Makeup Cosmopolitan Costumes Coupons Creams Cruise Ships Cruise Vacations Culinary School Culinary Travels Customized Printing DA Date Nights Dating Dating - Books Deals and Offers Denmark Dental Care Dental Care - Orthodontist Denver Desk Accessories Desserts Diamonds Diet and Lifestyle Diet and Muscle Gain Diet and Weight Loss Products Diet and Weight Loss Tips Dining Disclosure Policy Disneyland DIY - Beauty tips Dresses Drinks Driver's License Driving Drug Abuse E-Cigarettes Eating Right ebay Shopping Eco-Friendly Education Egypt Elderly Care Email Marketing Engagements Engagements - Rings England Etsy Europe Eurovision Evening Etiquette Events Exercise Eye - False Lashes Eye Health Eyeglasses Eyewear Face Masks Facebook Facial Care Facial Massage Family Family Vacation Famous Personalities Fan Pages Fancy Dresses Fashion Fashion - Autumn Fashion - Autumn/Winter Collections Fashion - Children Fashion - Dress Like a Model Fashion - Fall Fashion - Festivals Fashion - London Fashion - Men Fashion - Men - Formal Wear Fashion - Plus Size Fashion - Sports Fashion - Winter Fashion - Women Fashion Shows Fashion Trends Fashion Week Fat Reduction Treatment Father's Day FBF Festivals few Few things in between Finance Financial Organisations Fitness Florida Food Food - Street Food Food Fashion Food for Beautiful Skin Footwear For Children For Him Ford Mustang France Fred Perry Freebies Friis & Company Frozen Meals Frugal Living Fruits Furniture and Appliances Furuvik Gadgets Gadgets - Safety Garage Sale Gift Ideas Gift Shops Gifts Gifts for Her Gifts for Him Giveaways Glossybox Good Food Google Pagerank Great Savings H&M Hair Care Hair Colour Hair Extensions & Wigs Hairstyles Handmade Happiness Hats Hawaii Health Health - Children Health - Digestive Health - Diseases Health and Diet Health and Food Health and Herbs Health Items/Accessories Healthy Oils Heart Talks Heart Talks - Online Dating Heineken Hello World! High Heels History Holiday Homes Holiday Shopping Holidays Home Home - Garden Home Accessories Home and Living Home Buying Tips Home Cleaning Home Cooking Home Dining Home Entertainment Home Exterior Home Fashion Home Improvement Home Lighting Home Security Homemaker Honeymoon Hong Kong Hotels House Move Houseplants How-To's - Tie a Scarf Hygiene Ice Cream Immigration India Indian Jewelry Infographics Injuries Inspiration Inspiring Quotes Instagram Insurance Internet Invitations iPhone iPhone 5c iPhone 5S iPhone App Reviews Italy Jackets Jewelry Jewelry - Earrings Jewelry Boxes Jewelry Making Journal Juices Jumpers Keeping Fit Kicks.se Kids Kitchen Design Ideas Kitchen Items Knitted Laser Skin Resurfacing Lease Lenses Letters and Cards Life Coach Life Goals Lifestyle Lights Limousine Rentals Lingeries Loans London Long Beach LookBook Lulu Castagnette Lumene Magazines Make Up Make Up - brushes Make Up - Highlighters Malaysia Male Grooming Mango Marketing Massage Maternity Meals Men's Fashion Men's Grooming Merchandise Micropigmentation Midsummer Mix And Match Moments Mobile Apps Mobile Phone And Accessories Modern Home Money Matters Morocco Motion Sickness Motorhome Living Movie Inspired Trends Movies Moving Music My Coffee and Me Nail Care Nail Polish Netherlands Neutrogena New Place New Year New York Night Out Nivea Nokia Nokia Lumia 930 Nonsurgical enhancements Nursery Obesity Oils Olay Online Dating Online Shopping Oral Care Oral Care - Braces Oral Care - Teeth Whitening Oral Hygiene Organizing Oscars Out of the Day Outfit of the Day Pajamas Parenting Parents and Teens Parks Parties Party Themes Perfume - Women Perfumes Personal Growth Personalized Tees Pet Items and Accessories Philippines Photos Piano Pizza PJ Places to Visit Plastic Surgery Plumbing Plumbing Issues Plus Size Portugal Postal Boxes Pregnancy Product Reviews Professions Prom Night PS3 PU Pubs Pullovers Raw Food Real Estate Reality Shows Recipes Recovery Recycling Red Carpet Relationships Religion Rentals Resorts Restaurants Reviews Road Trip Roller Derby Romance Romantic Getaways Rome RVs Safety and Security Options Sale Sale Alert Sandals Sanrio Santa Barbara Saving Tips Scarves Scooters Scrubs Seasons Security Self Improvement Selfie Shabby Chic Shaving Shawls Shoes Shoes - Books Shoes - Boots Shoes - Running and Walking Shopping Shopping Deals Shopping Malls Shopping-Wish-List Shorts Signs of Aging Simple Pleasures Singapore Skin and Alcohol Skin Care Skin Care and Beauty Products Skin Doctors Skin Laser Skin Nutrition Skin Whitening Skirts Sleep Slippers Slow Juices SM SM Mall of Asia Snoring Social Media Social Networking Socks Söderhamn South Asia Spa Spain Sports Sports Accessories and Items Spring Fashion SR Sri Lanka Stag Party Tips Street Wear Student Meals Study Essentials Subscriptions Summer Summer Fashion Summer Fun Summer Getaway Surprises Sweatshirts Sweden SweNay.com Swimwear Takeaways Tattoos Taxes Technology Teens Tents the UK the USA Therapy Thrift Shopping Tickets Tools Tops Trailers Transportation Travel Travel - Insurance Travel - Saving Tips Travel Blogging Travel Cruise Holiday Travel Souvenirs Travel Tips Travel Winter Travel Wish List Travels Trench Coats Trend Tuscany Tuxedo TV Ads TV Shows United States Vacation Vacation House Valentine's Day Vitamins and Supplements Volunteer Vouchers Wardrobe Watches Water Filtration System Wedding - Locations Wedding - Saving Tips Wedding Bands Wedding Dresses Wedding Gowns Weddings Weddings - Dresses Weddings - Entertainment Weddings - Food Weddings - Outdoor Weddings - Photographs Weddings - Venue Weight Loss Wellness Wheelchair Wigs and Extensions Windows Phone Wine Tasting Winter Winter Boots Wish List Women's Fashion Women's Underwear Work Work Ethic Workwear World Issues WWE YouTube Yves Rocher Zalando Zalando Lounge

Subscribe