Renters Insurance And Your Lease Agreement

It is becoming more common for landlords and property ownership companies to make renters insurance mandatory for tenants. Renters insurance for tenants may reduce the liability of the property owner in some cases. Renters insurance provides the most benefits to the renter. However, it's really a win-win situation for both parties.

Your landlord's insurance won't insure your personal possessions. With renters insurance if you ever need to relocate while your place is being repaired, they may pay all or some of the costs of your additional living expenses.

Even if purchasing rental insurance is not mandatory for your lease, you may want to consider doing it any way, for as little as $200 a year, you may be able to secure a simple renters insurance plan. To find quotes to compare, use the request form on our website. You'll be contacted with quotes from multiple renters insurance companies.

Sources

1. Renter's Insurance Can Be Terms Of Lease, Robert Griswold. (2008). Retrieved June 6, 2008, from http://www.dailyherald.com/story/?id=161973