How does a landlord benefit from requiring tenants to get renters insurance?

This post has 9 comments

• 
  Skyhawk
  November 3rd, 2008

  It may remove some of his liability in the event of a fire, a burglary, water leak, etc.

• 
  Brian G
  November 4th, 2008

  Renter’s insurance covers both the tenants personal property and the landlord’s property. If damage occurs that is the fault of the renter, the landlords property can be repaired with the insurance instead of him having to take you to court to pay for the damages.

• 
  Robert W
  November 7th, 2008

  If you screw up, say and forget to turn the heat on in the winter when you leave to go home for Christmas break, and your pipes freeze, and flood the place, they can sue the insurance company instead of you. Can’t get blood out of a turnup, you know.

• 
  Wally
  November 10th, 2008

  by getting a notice from the Federal Housing Administration and getting to meet someone from Washington D.C.?

  (a landlord cannot legally require a tenant to get renters insurance; a benefit to the proposed landlord might be to get tenants that a personal preconception deems will be of a “class” sought)

• 
  matw4eva
  November 12th, 2008

  I’m not sure, but the tenant having renters may lower his insurance rate. Rents insurance is money well spent. My cost $110. per year for 20K of coverage, thats $2.11 a week. So i dont care if my landlord benefits from it or not.

• 
  ticketoride04
  November 15th, 2008

  it really doesn’t matter if the LL benefits or not, are you looking to have a problem????
  The LL sleeps easier and rents easier to those that care for the property they own and the home they wish to protect in the event of an emergency!!!!
  I’d rent to someone cheaper, faster and easier if I knew he/she were responsible enough to get insurance to protect the home as well as the tenants personal property.
  Remember, the LL carries Ins too, fire,liability and property damage in the millions to cover the foolishness of his tenants and guests and nose arounds in the event of a catastrophe, don’t you feel better that the LL is carrying ins so your home will be replaced if you get in a drunker stupor and have a party and someone accidentally starts a fire and burn the place to the ground?????
  there’s some stuff to consider

• 
  Barbara R
  November 18th, 2008

  Ok, let’s clear this up. House insurance goes with the person who pays it, NOT with the house! Say the tenant has insurance and his/her personal belongings…that is all they can do! It does not and will not cover any property damages incurred. NONE. If the house burns, water damage, freezing, etc., it is the responsibility of the landlord to have these things covered. The landlord also can NOT cover the tenants belongings. Insurance company policies, not mine.

  So when these people are saying that the tenant is a more responsible person if they have insurance? Naw. Don’t believe it.

  The landlord can require anything they want to and if the tenant agrees, then they have a contract. Personally, I wouldn’t sign a lease that had that in it IF I were a tenant. It just means that if the landlord is at fault and they lose their things, the insurance will cover them. But surprise, they won’t! the insurance company will go back on the landlord anyways.

  Clear as mud? Hope this helped.

• 
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  November 18th, 2008

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  November 18th, 2008

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