Why landlords NEED to require that their tenants carry renter's insurance

Do you have tenants? Then you NEED to require that they carry renter's insurance. And you also need to require proof in the form of a declaration sheet before they move in.

It doesn't matter if your tenant is your best friend or your significant other. If they are a non-family member the chances are overwhelming that your insurance policy WILL NOT cover them in the event of a claim.

Renter's insurance protects both of you.

In the event of a theft or fire claim, renter's insurance can replace their belongings.

But it goes far beyond theft. If, say, a fire or a burst pipe makes your premises unlivable for a time, renter's insurance can step in and pay for their rent. 

If your tenant has a guest over and that guest, for example, slips and falls on an ice cube on the kitchen floor, renter's insurance can help with the medical bills. And, God forbid, your tenant is accused of starting a fire, your home or landlord insurance may not pay for the damage. If your tenant is a total STINKBOMB and vandalizes your property, you can file a claim against their renter's insurance rather than your home insurance. (This happened to a friend recently.)

And don't jerk around with $100,000 liability limits. Require at least $500,000. The difference in premium is negligible. 

And most carriers will give discounts for bundling car and renter's insurance!

Other agents might not tell you this. I will. Please call me.

Doug Newman - 303-902-5503


30+ carriers ... 40+ states
life & benefits in Colorado.

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