Can You Legally Require Renters Insurance?
16470 POINTSview profileDavid OsgoodAgent, Rural Mutual Insurance Co., Union Grove, WIBased on my current education and limited experience within my geographic area, a landlord or property owner may require renters insurance through their rental or lease agreement. Renters insurance is coverage that every tenant should have. It is typically very low and provides personal liability and personal property coverage up to the policy limits.Answered on October 18, 2013flag this answer
14231 POINTSview profileTom SheehanAgency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482Consult your attorney over legal questions, but it can be very easy to insert an insurance requirement into a lease agreement. Think about it. On a Homeowners' policy you are required to have insurance by your mortgage company and to have them named on the policy. They do that because they want to make sure that thier interest is protected. Frankly, I always advise my clients who have rental properties to have such a clause included in the rental agreement. Having such proof of coverage in force for your tenant protects your interest as the property owner.Answered on October 18, 2013flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
.JPG){kind=avatar}
