Yes, Yes & Yes!!! Although Renters Insurance is designed to protect the Personal Belongings of the Renter, the policy also includes Personal Liability Coverage. There have been endless numbers of cases in Small Claims Court where there are issues between Landlords and Renters following damage to rental units.
With the presence of a Renters Insurance Policy, the insurance company will investigate the claim and find if in fact the renter's negligence caused the loss; if so, the damage repairs will be covered by the tenant's personal liability section of the Renters Insurance Policy.
In some States, the Renters Insurance Policy is a requirement under the conditions of the standard rental agreement; however, it is prudent of Landlords to require Renters Insurance. As a rhetorical question: 'Would you wish to rent your property to a tenant not concerned with insuring their own belongings?'
Renters Insurance is very inexpensive and contrary to common belief, you don't have to speak to a salesperson to obtain a quote and buy the insurance. In many States, the minimum coverage is $10,000 or $15,000 of Personal Property and the policy automatically comes with $100,000 of Personal Liability. Depending on your selected deductible, the premium may be as low as $100 per year. If you are responsibly cautious only about the liability issue, we would recommend selecting the highest deductible since this will generate the lowest premium; the deductible doesn't apply to the liability section.
For an online free quote and online platform to buy renters insurance online, you may use: http://hda.stillwaterinsurance.com This link will allow you to get an online quote, select the coverage and deductible you desire and issue the policy online.
For further details or to review your present coverage, you may contact a licensed company representative toll-free at: 877-931-3368.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
Technically a renter’s policy covers the personal property and liability assumed of the tenant. However, the presence of the policy greatly reduces the risk that the landlord will be sucked into some sort of action should personal property be damaged (sometimes in conjunction with a loss to the structure.) If the landlord is named as an additional insured it also consolidates the defense against bodily injury and property damage which ultimately saves money for the landlord.
The presence of a renter’s policy does not reduce the liability exposure that the landlord has; however, it does take away confusion over loss of personal property and clarifies who is going to respond should a suit be lodged against the landlord and the tenant at the same time for the same incident.
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With the presence of a Renters Insurance Policy, the insurance company will investigate the claim and find if in fact the renter's negligence caused the loss; if so, the damage repairs will be covered by the tenant's personal liability section of the Renters Insurance Policy.
In some States, the Renters Insurance Policy is a requirement under the conditions of the standard rental agreement; however, it is prudent of Landlords to require Renters Insurance. As a rhetorical question: 'Would you wish to rent your property to a tenant not concerned with insuring their own belongings?'
Renters Insurance is very inexpensive and contrary to common belief, you don't have to speak to a salesperson to obtain a quote and buy the insurance. In many States, the minimum coverage is $10,000 or $15,000 of Personal Property and the policy automatically comes with $100,000 of Personal Liability. Depending on your selected deductible, the premium may be as low as $100 per year. If you are responsibly cautious only about the liability issue, we would recommend selecting the highest deductible since this will generate the lowest premium; the deductible doesn't apply to the liability section.
For an online free quote and online platform to buy renters insurance online, you may use: http://hda.stillwaterinsurance.com This link will allow you to get an online quote, select the coverage and deductible you desire and issue the policy online.
For further details or to review your present coverage, you may contact a licensed company representative toll-free at: 877-931-3368.
The presence of a renter’s policy does not reduce the liability exposure that the landlord has; however, it does take away confusion over loss of personal property and clarifies who is going to respond should a suit be lodged against the landlord and the tenant at the same time for the same incident.