How Does Renters Insurance Benefit The Landlord?
12689 POINTSview profileTed RatliffOwner, SFS Associates,Renters insurance protects the landlord in the event someone is injured on his property at the fault of the tenant. Even though the fault is the tenants, the landlord can still be named in a lawsuit. Requiring a tenant to carry renters insurance provides liability coverage which would pay first, thus reducing or eliminating any exposure to the landlord, depending on the amount of the settlement.Answered on August 31, 2013flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is a great question! The landlord needs to provide a safe environment for the tenants, and carries insurance on the property. To help protect the property manager/complex from a higher liability, your renters policy helps take some of that liability off of their shoulders. If you damage the apartment, or someone is injured in your apartment, your policy covers some or all of that claim, and not the landlords. Thanks for asking!Answered on May 13, 2014flag this answer
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