what insurance should be required from the renter on a rental house?

Answer 1

NONE. The home owner has the home insurance. Renter has an OPTION to purchase a rental insurance on his/her own.

Landlord can not require you to buy anything as far as insurances are concerned. If you elect NOT to buy the renter's insurance and your property is damaged, lost, stolen, burned, or flooded, you may have very little recourse. It is for your own protection, but still the landlord can not require you to buy it.

Answer 2

Many insurance companies sell renters policies which specifically help both the landlord and the tenant.

Think of a renters policy as a homeowners policy which does not cover the dwelling. It contains personal liability coverage and property coverage. The way this helps the property owner is via the personal liability portion of the policy. Say your tenant has a BBQ and some embers light the roof on fire. This would be covered under your Landlord policy but since the damage was caused by the acts of the renter you would be able to file a claim under the renters coverage for the damages versus using your coverages.

This protects the renter by having coverage for accidental damages to the subject property. Also this type of policy provides protection to the renter in case of damage or loss to their personal property. Say a pipe breaks and damages their furniture. The landlords insurance will not pay for this which would mean that the renter would be up a creek. With coverage in place they would be covered.

I use to sell this coverage when I was an agent with Farmers. It was fairly cheep and covered pretty much anything a renter would need. I would suspect that Allstate, State Farm etc... would also have some good products. Just remember that you as a landlord can not require a renter to get their coverage through a specific company.

Good Luck.

Kevin 866-562-6838 x 106
[e-mail]

Answer 3

The landlord can't ask the renter to buy any insurance as it is up to him to get some.
However different states mandate different levels of coverage; for instance how far you are from the nearest fire dept and the fire dept's scoring can determine your coverage cost. The amount of doors and deadbolts, the safety railings for stairs and steps, there are plenty many things to impact your costs. And even your credit score has an effect on whatever you will pay for insurance.
Quotes are always free from http://homeinsurance.nightbirdssolutions.com or http://homeinsurance.nightbirdssolutions.com/quotes.html.












RE:
what insurance should be required from the renter on a rental house?

Answer 4

A renter who is renting a house or apartment, needs to have Renter's Insurance on their possessions. The landlord cannot ask the renter for any insurance, as it is up to the landlord to insure the strucure (house, apartment) and the appliances, fictures, and other permanent items inside). Again, the renter needs to have renter's insurance on their OWN possessions (clothing, furniture, personal effects, etc.) but the landlord cannot require this as a contingent to rent.

Answer 5

The landlord/owner can't require that you have insurance, unless it's in your lease and certainly NOT for the property itself!

Renter's insurance, which covers your presonal property only is always good to have though!

Good luck :)

Answer 6

renter's insurance. It insures only their personal items and contents.

Structural and liability insurance is the responsibility of the owner of the building.