I’m a landlord. Can I require renters insurance from my tenants?

Yes. While tenants aren’t legally required to have insurance, a landlord can write it in as part of the lease agreement.

It could be a good idea to point out to any potential tenants that renters insurance is there to protect them. First, renters insurance covers their legal liability by helping to cover costs if they accidentally damage your property (among other benefits). Many tenants also believe that their landlord’s insurance will pay to replace their stuff if something happens, like an accidental house fire. But, that’s not the case. They’ll need their own personal tenant insurance policy to cover their belongings. Otherwise, they’ll have to pay out of pocket to replace them. And, it even covers temporary increased living expenses (like food or a hotel) if they can’t stay in their rental unit after a covered event happens. It’s win-win for both parties.

Have more questions about coverage? Get in touch via email or chat! We’re happy to help.