Renters and Landlord Insurance: Don't Get Burned!
Myth #1: If the house or apartment you are renting burns down, the landlord’s insurance will cover the cost of replacing your stuff.
Myth #2: My landlord cannot require me to have renters insurance.
MYTH #3: If someone gets hurt in my house/apartment, the landlord is liable.
Myth #4: If I convert my residence to a rental, my homeowners insurance is sufficient.
Myth #5: Converting my homeowners insurance to rental property insurance is too expensive to consider.
MYTH #6: I won’t be able to confirm if my tenants continue their coverage.
Unquestionably, any renter or landlord would be foolhardy to not carry the appropriate coverage. Without these important protections, tenants leave themselves exposed to serious loss of property or liability claims. Conversely, landlords that try to skate through with just a homeowners policy set themselves up for great loss on the occasion that a damaging event occurs while a tenant resides in the home.