2007-10-10 12:36:47 · 0 answers · asked by audi9202 2 in Business & Finance ➔ Renting & Real Estate
Yes, landlords can require that you maintain a renter's insurance policy, if that is one of the requirements you agreed to in your lease. It is not illegal to make such insurance a requirement when preparing a lease.
2007-10-10 13:37:52 · answer #1 · answered by acermill 7 · 3⤊ 0⤋
Yes, landlords have the right to make insurance mandatory. If there is one such requirement you accepted in your rental agreement, then you'll have to buy one. This clause is included in lease in order to set back the liability back in renters hand and not to get sued, how major the accident is.
RE:
Do landlords have the right to make renters insurance mandatory?
Do landlords have the right to make renters insurance mandatory?
2014-11-07 20:40:26 · answer #2 · answered by Anonymous · 1⤊ 1⤋
No. It is not compulsory. Renters insurance covers the loss of your belongings. It would not pay, for instance, to repair damage to the apartment for your aquarium leaking.
You should get the insurance though, because it is usually very cheap (15-20 dollars per month), and it will save your butt if you have a fire or get cleaned out in a burglary.
2007-10-10 12:43:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Acermill is right. There is one property management company in particular (starts with an "E") that requires residents to carry renters insurance. Even private landlords can require them to carry it. The requirement needs to be made clear in the application and lease, though and not made a requirement mid-stream.
2007-10-10 14:18:13 · answer #4 · answered by princessyumyum 4 · 1⤊ 0⤋
No they don't. Renters need to understand though that the landlords insurance doesn't cover any of your loss. Renter's insurance can be bought fairly cheap and you'd have cash to buy the things you need to start over.
2007-10-10 16:27:48 · answer #5 · answered by Classy Granny 7 · 0⤊ 2⤋
Yes, we can! I required it on all of my properties. Most tenants were OK with it. There were a couple who did not and I used the lease term to put the liability back in their laps. One suffered major damage to their property due to a collapsed sewer line. It would have been covered had they had renter's insurance. As things stood, they recovered nothing from me when they tried to sue.
2007-10-10 12:46:39 · answer #6 · answered by Bostonian In MO 7 · 2⤊ 0⤋
Whether they do or not please get it! My boyfriend's house (he rented) burned down two months ago, and let me say, it's very cheap to get renter's insurance compared to losing everything! I know this didn't answer your question, but it's only 200 dollars at most per year. Please get renter's insurance!
2007-10-10 12:44:43 · answer #7 · answered by stefanieiam 2 · 0⤊ 0⤋
No, it's not.
2007-10-10 13:09:25 · answer #8 · answered by Expert8675309 7 · 0⤊ 2⤋
No as that is on your furniture which you own ,
2007-10-10 12:43:43 · answer #9 · answered by Gypsy Gal 6 · 0⤊ 2⤋