A Landlord can require Renters Insurance in any State as a condition of the Lease Agreement. Renters Insurance is an increasingly more valuable commodity for both home owners and renters in a very litigious society.
Renters Insurance provides the Landlord peace of mind in the event a claim occurs as the result of the tenant's negligence; the home owner will not be negatively impacted by their insurance. Many Landlords require the Tenant to list the Landlord as an 'Additional Insured' on the Renters Insurance Policy this will insure the Landlord receives a copy of all correspondence including cancellation notices and renewal notices.
Renters Insurance provides coverage for the tenant's Personal Property as well as offering Personal Liability coverage which is the specific section in the interest of the Landlord. Without this important coverage, legal actions are more damaging and cumbersome for all parties concerned.
There are a few States that have required all tenants in the State to purchase Renters Insurance and the requirement is a compulsory section of the Standard Lease Agreement which is signed by both the Landlords and Tenants. States have taken this action due to an overwhelming load of small claims cases burdening the Court System.
Renters Insurance is an inexpensive form of security which all responsible tenants should wish to have; in many localities, a policy can be purchased for as little as $8.00 per month. For a Renters Insurance quote, there is an available link to obtain your quote and purchase the policy online: http://hda.stillwaterinsurance.com
In order to produce the lowest rate, you will need to select the minimum amount of Personal Property Coverage available to cover all your possessions, select the minimum required Personal Liability Limit, and select the maximum available Deductible. The deductible doesn't apply to the Personal Liability section, so if this is the only reason that you are buying the policy, the maximum deductible should be purchased to obtain the lowest premium.
.JPG){kind=avatar}
Renters Insurance provides the Landlord peace of mind in the event a claim occurs as the result of the tenant's negligence; the home owner will not be negatively impacted by their insurance. Many Landlords require the Tenant to list the Landlord as an 'Additional Insured' on the Renters Insurance Policy this will insure the Landlord receives a copy of all correspondence including cancellation notices and renewal notices.
Renters Insurance provides coverage for the tenant's Personal Property as well as offering Personal Liability coverage which is the specific section in the interest of the Landlord. Without this important coverage, legal actions are more damaging and cumbersome for all parties concerned.
There are a few States that have required all tenants in the State to purchase Renters Insurance and the requirement is a compulsory section of the Standard Lease Agreement which is signed by both the Landlords and Tenants. States have taken this action due to an overwhelming load of small claims cases burdening the Court System.
Renters Insurance is an inexpensive form of security which all responsible tenants should wish to have; in many localities, a policy can be purchased for as little as $8.00 per month. For a Renters Insurance quote, there is an available link to obtain your quote and purchase the policy online: http://hda.stillwaterinsurance.com
In order to produce the lowest rate, you will need to select the minimum amount of Personal Property Coverage available to cover all your possessions, select the minimum required Personal Liability Limit, and select the maximum available Deductible. The deductible doesn't apply to the Personal Liability section, so if this is the only reason that you are buying the policy, the maximum deductible should be purchased to obtain the lowest premium.