Is Renters Insurance Optional?

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   For the vast majority of renters, a renter’s insurance policy is optional.  Some landlords will require that the tenant own a renter’s insurance policy and name them as an additional insured.  It is important to note, however, that as a renter you are responsible for injuries and accidents that happen on the rented property.  You are also responsible for damage to the unit and if your property is damaged because of a covered peril, your landlord is not responsible to make you “whole.”  Those are things that a renter’s policy does.

   Answered on May 14, 2014

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