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You cannot force them unless it was a condition of the lease in which case would be grounds for eviction.
Renters insurance only covers their property inside the home and claims are only payable to them so I do not see why it would be such a big deal to you.
What you need is homeowners insurance paid by you for the home that you own.
Security, damage and last months rent paid up front are how you would recover damages to the home after they vacate, if damage is severe small claims court is the way to go.
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I have an existing lease now owner says everyone in complex has to buy renters insurance have to buy renters insurance?
If it's not in your current lease agreement then there is no way he can force you to buy it. But when your lease comes up for renewal he can insist you get it or just not renew your lease if you refuse. Most complexes now require that tenants purchase renters insurance. It protects both the tenant and their property as well as the landlord against damages to his property by a tenant. This has become common practice these days with leases both personal and commercial. Most likely someone in your complex has tried to bring a claim against the apartments for some personal property loss, or, They trashed the apartment they rented leaving a big repair bill for your landlord, so your landlord is just avoiding future problems and expenses by conforming to current industry practices and requiring that everyone get insured.
Can you share renters insurance with your roommates?
Renters insurance is definitely worth getting. Most agents or brokers from whom homeowners insurance can be purchased can also write renters insurance. As for renters insurance being shared... since you are renting the premises, renters insurance covers contents only (not the structure of the building). The policy that you buy will specify the meetes and bounds of what is covered. It is important that you list on the application or other document tendered by the agent, the items that you wish to insure. The value of the items will determine the amount of coverage that you buy. If you are buying the insurance with your roomate, be sure that both of you are shown to be insureds on the policy. Keep in mind, though, that if you part ways, the policy may have to be altered for the person who moved because the risk has changed (the property insured will be relocated to a new location). Get receipts, photos, and descriptions ready for each of the items, especially the expensive items, and tell your renters insurance company that you want to add additional items to your renters insurance policy.
You inherited rental property Do you need to write a new lease for tenants?
Generally, the current lease under which the tenant resides goes with the property. If the owner dies that lease continues until its expiration date. The heirs could offer to buy out the tenant and provide moving costs. There may be an exception if the heirs desire to occupy the property. Landlord and tenants rights in this case should be discussed with an attorney.
What is the difference between retail and renter's insurance and can you use renter's insurance in a retail space?
Commercial Space Rental and InsuranceWhat you would need to buy for a commercial space is called Commercial General Liability Insurance. AnswerThere is a big difference between Retail and Renter's insurance. Retail insurance is for any type of basically a retail business that has an inventory used for retail purpose. Renter's insurance is used for a private individual or family that is renting a home or apartment and wants to protect their belongings from fire/flood/etc. You cannot use renter's insurance to protect a retail space which is considered business. Retail insurance does cost more. But to get the best answer to this question consult your insurance agent.
Can a landlord request renter's insurance to be mandatory?
Yes, it can be included in the lease. It will only cost you less than $250/year depending on the amount of coverage and protects both your personal property and your liability. Plus, if the building burns down or some other loss, pays for you new place to live and other inconveniences. The real question is, why fight it? why would you not buy coverage required or not? 4lifeguild
What is covered by homeowners insurance if you are renting the house?
The dwelling Owners policy does not cover the property or liability of a tenant. Rental dwellings are covered under a Dwelling Policy that covers rental properties not a homeowners policy. If the tenant seeks coverage, the tenant must buy his own Renters Insurance Policy.
Where can one buy renters insurance in Houston?
There are several places where someone can purchase renters insurance in Houston. Sites like Liberty Mutual, Progressive, Geico and All State all are good places where a person can buy renters insurance.
Is a tenant in Arkansas required to carry renters insurance or can it be placed on the lease by the landord?
Yep, It's become the industry norm to require tenants carry a renters insurance policy. This protects the property of both the landlord and the tenant as well as certain liabilities of the tenant in the event of damages or loss concerning the rented property. It's in the lease contract. Failure to provide the coverage is a breach or default of contract and he landlord can buy whatever he wants and bill it to you.
What is the cost of renters insurance?
Renters insurance can be found online for a good price and there are many places with great information for the person that is looking to buy the insurance.
I have an existing lease now owner says everyone in complex has to buy renters insurance have to buy renters insurance?
If it's not in your current lease agreement then there is no way he can force you to buy it. But when your lease comes up for renewal he can insist you get it or just not renew your lease if you refuse. Most complexes now require that tenants purchase renters insurance. It protects both the tenant and their property as well as the landlord against damages to his property by a tenant. This has become common practice these days with leases both personal and commercial. Most likely someone in your complex has tried to bring a claim against the apartments for some personal property loss, or, They trashed the apartment they rented leaving a big repair bill for your landlord, so your landlord is just avoiding future problems and expenses by conforming to current industry practices and requiring that everyone get insured.
What is a good company to buy renters insurance from?
One of the main companies that sells renters insurance nationwide and allows customers to make online purchases is State Farm Insurance. You can find more information on their website.
Can a homeowner buy only a Renters Policy?
Well, Not really, When you buy a renters insurance policy you have to declare that you are a renter. If you have a loss and the insurance company discovers you lied, They will not be required to pay for any claims due to a fraudulent statement on your application.
What types of insurance policy apply for tenants in rental houses?
If you are a tenant who rents out an apartment, house or building for living space it is a great idea to get renter's insurance. Without renter's insurance you could lose all of your personal property and valuables if a fire or burglary ever occured. The homeowner's insurance would cover the dwelling but not your personal belongings. When you're renting, you'll want to buy renters' insurance to cover your stuff. Here's a place that sells policies: http://www.statefarm.com/insurance/renters/renters.asp
Where could a person buy renters insurance online?
You can purchase Renters Insurance from multiple sources both on and offline from sellers such as Esurance, GEICO, and Statefarm. You might also find there exists local options that will offer better rates for in-state buyers.
Is it required to buy renters insurance in Florida?
In the state of Florida, it is not required for people renting real estate to purchase renter's insurance, but the state also does not offer any other type of protection for these renters.
How much does it cost to buy renters insurance?
The price of a renters insurance depends on various factors, like how much the seller wants for it and where the insurance is bought from. The average price lies around $110 a year, but this can increase up to $200 a year.
Can you share renters insurance with your roommates?
Renters insurance is definitely worth getting. Most agents or brokers from whom homeowners insurance can be purchased can also write renters insurance. As for renters insurance being shared... since you are renting the premises, renters insurance covers contents only (not the structure of the building). The policy that you buy will specify the meetes and bounds of what is covered. It is important that you list on the application or other document tendered by the agent, the items that you wish to insure. The value of the items will determine the amount of coverage that you buy. If you are buying the insurance with your roomate, be sure that both of you are shown to be insureds on the policy. Keep in mind, though, that if you part ways, the policy may have to be altered for the person who moved because the risk has changed (the property insured will be relocated to a new location). Get receipts, photos, and descriptions ready for each of the items, especially the expensive items, and tell your renters insurance company that you want to add additional items to your renters insurance policy.
