Tenant's Insurance
Many insurance companies offer big discounts!
The below topics are discussed in much more depth
on our members' Tenant's Insurance page.
Non-Members' Homepage
Landlords and property managers should make every effort to insure that their tenants realize the necessity of purchasing their own renter's insurance.
Tenants must clearly understand that a landlord's coverage does not extend to their liability, or to replacing their own personal property for a loss occurring from risks like fire, vandalism and theft.
Tenant's insurance, like homeowner's, is a package of several types designed to cover more than one risk.
Renter's insurance will also help limit lawsuits against landlords when a tenant suffers a loss from most causes .
Here is the good news: the insurance will likely cost the tenant very little!
That's right ... and here's why.
Auto insurance is the only causality policy many tenants have. When they buy renter's insurance they become eligible for multi-policy discounts that are now available from several well known companies that will save them a substantial amount of money.
So ... why don't all tenants have tenant insurance?
Only because they don't have the necessary information!
Commercial property managers insist that all of their tenants carry insurance. Perhaps residential landlords should do the same thing. The result will be - what folks in the sales profession call: "Win-Win".
The above topics are discussed in much more depth
on our members' Tenant's Insurance page.
Non-Members' Homepage |