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proof of renters insurance - Landlord Forum thread 191180

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proof of renters insurance by anonymous (md) on November 9, 2009 @08:22

lease says that tenant must have insurance and must furnish a copy of the policy to me. tenant has sent a "certificate of insurance" from the agent that shows that a policy exists. as certificate holder, insurance company will notify me of cancellation.

tenant has clearly met the spirit of the requirement by getting a policy in the first place -- do i need to press for a copy of the actual policy itself?

thanks in advance!

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Re: proof of renters insurance by Paul (IL) on November 9, 2009 @09:43 [ Reply ]
Im not really sure why you would require a tenant to have renters insurance..??
Re: proof of renters insurance by OK-LL on November 9, 2009 @10:52 [ Reply ]
You can ask that he send you a "Declaration Page" which will provide you with the basic information about the policy, including values ($20K personal possessions; $100K liability).

For the previous poster - manuy LLs require tenants to obtain renter's insurance in order to assist them in fulfilling the indemnity clause contained in many leases -- that's the "hold harmless" clause. If a friend comes over and trips on the carpet and suffers physical damage, the renter's policy will kick in to cover the hospital bills, lost wages, etc., before the LL's policy has to pay. It also covers tenant (and LL) against dog bites, etc. It will also reduce the tenant arguing with or suing LL over property damage when a pipe breaks, ruining the tenant's possessions.

Re: proof of renters insurance by Adam B. (MN) on October 18, 2010 @06:03 [ Reply ]
Consider getting lower rates before you renew. I compared policies with and got a cheaper quote.

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