Re: Confirming Proof of Renter's Insurance

Re: Confirming Proof of Renter's Insurance by Bunny *M*A*G*I*C* on April 22, 2012 @03:30

I ask to receive a copy of the page that shows the policy number, policy period, effective date, etc.

The page is titled Renters Policy Coverages and Limits--and that page specifically has me listed as "other interest" (the phrasing might be different with other insurance companies).

This way, if the tenant cancels, I get notified by the insurance company.

I usually give one month's time for this to be done. It usually takes less time, but people are busy with moving in and unpacking. It's a good idea for the tenant to link their renter's insurance with their car insurance as it's cheaper for them because they already have an existing policy.

[ Reply ] [ Return to forum ]

Re: Confirming Proof of Renter's Insurance by Mike The New Landlord (CA) on April 22, 2012 @12:24	[ Reply ]

That's helpful. Thank you. So you just tell the tenant to add your name/address as "other interest" to the renter's policy and recommend they get the renter's policy from their auto insurer? I've gotten some push-back with prospective tenants about where to get a policy.

Re: Confirming Proof of Renter's Insurance by Bunny MAGIC on April 22, 2012 @15:48	[ Reply ]

I "suggest" that they use their vehicle insurance company and check on the cost of adding renter's insurance to their existing car policy. In my rental agreement, I have it noted as MANDATORY that I be named as "other interest" and the amount of renter's insurance I require, and the deadline for when this has to be done. It seems to be cheaper to tie renter's insurance to a car insurance policy, but if the tenants want to get their own renters insurance from another source, that's their money doing the talking and they can choose how to spend it on whatever company they choose. As long as I have verified renter's insurance, I'm fine.