The Importance of Renter's Insurance

Sep 5, 2012 10:51:34 AM

I’ve always been a fan of Renter’s Insurance. The benefits are definitely there for both our property Owners and Tenants. However, until now, we’ve only “recommended” that Tenants get insurance. And many do. It’s cheap. It’s easy to obtain and many residents see the numerous benefits.

In the very near future, our Leases will require all Tenants to obtain Renter’s Insurance. In addition, all renewal Leases will include the requirement as well. The reasons are many…

1) Obviously, one of the biggest benefits for Tenants is coverage of personal possessions. For example, if a flood ruins furniture, Renter’s Insurance will cover it. If items are stolen, Renter’s Insurance will cover it.

2) Secondly, if the rented property is destroyed, or damaged beyond habitability, most Renter’s Insurance will pay for temporary housing.

3) Liability coverage is also huge. If damage occurs as a result of Tenant negligence (the Tenant starts a fire, for example), the Renter’s Insurance will cover it. If someone is injured on the property, Renter’s Insurance will cover it.

If you are a current Tenant of ours, simply log-in to your Tenant Portal to learn more about Renter’s Insurance and get a free quote from a 3rd party provider. Sign-up is quick, easy and well worth the investment!

Jeremy Tallman

Written by Jeremy Tallman