President, Streets Insurance Agency, 1234 Rhododendron Dr (POB 7000), Florence, OR 97439
A lease is a contract. If the lease requires renters insurance and the tenant signs (agrees) it is required. That said, renters insurance is cheap. every tenant should price it and consider the coverage. Anyone who rents property should consider requiring the coverage. If this happened there would be a lot less sad stories of poor families who lost everything in a fire. the saddest part is the family might not be in that position ... For less than $10 month. What a shame.
Yes, it si very common for leases to require renter's insurance and your landlord can require it. As mentioned above, it is not very expensive and could save you a lot of money if something unfortunate happens. Many landlord's will not let you move in without proof of the coverage.
Both Michael and Dan have provided useful information here. I would like to add a personal circumstance that I have often shared, in hopes that it will increase awareness of the importance of this coverage.
As both Gentleman have indicated, a landlord can require that the renter's policy be a term within a lease. Absent a State law that would preclude inclusion of such a clause, it can be a requirement.
I saw the value of this important insurance coverage first-hand, when my two Sons had a severe kitchen fire in their apartment in Raleigh, NC a few years ago. Fortunately, no one was hurt but the apartment became totally uninhabitable as a result of the fire and smoke damage. Because my Sons were astute enough to have purchased a renter’s policy (…they finally listened to their Father!...) they were reimbursed for all of their burned and smoke-damaged possessions. Additionally, they received full reimbursement for living expenses elsewhere, while restoration was being completed. When the landlord sued them for negligence related to the cause of the fire...which was quickly thrown-out in court, as a frivolous allegation, the insurance carrier provided them a defense for the negligence claim, including the presence of a defense lawyer during the formal hearing.
All-in-all, it cost my Sons their very affordable premium and a small loss deductible to get back to their lives. Without the renter’s policy, they would have been 'hurting' for a long time!
.JPG){kind=avatar}
As both Gentleman have indicated, a landlord can require that the renter's policy be a term within a lease. Absent a State law that would preclude inclusion of such a clause, it can be a requirement.
I saw the value of this important insurance coverage first-hand, when my two Sons had a severe kitchen fire in their apartment in Raleigh, NC a few years ago. Fortunately, no one was hurt but the apartment became totally uninhabitable as a result of the fire and smoke damage. Because my Sons were astute enough to have purchased a renter’s policy (…they finally listened to their Father!...) they were reimbursed for all of their burned and smoke-damaged possessions. Additionally, they received full reimbursement for living expenses elsewhere, while restoration was being completed. When the landlord sued them for negligence related to the cause of the fire...which was quickly thrown-out in court, as a frivolous allegation, the insurance carrier provided them a defense for the negligence claim, including the presence of a defense lawyer during the formal hearing.
All-in-all, it cost my Sons their very affordable premium and a small loss deductible to get back to their lives. Without the renter’s policy, they would have been 'hurting' for a long time!