Landlords Always Always Always Require Renters Insurance—Here’s Why Daily Podcast

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Sure, renters insurance is vital to cover a tenant's personal belongings. However, it's imperative that landlords require renters insurance on any new lease or lease renewal. Why? Renters insurance doesn't just protect tenants; it's useful for landlords if they need to cover a tenant's losses caused by someone else. • So, renters insurance has numerous benefits for both landlords and tenants. • Despite this fact, renters insurance might sound like an extra expense that tenants think they can do without. In fact, if a landlord doesn't require it, it's unlikely that most renters will take out insurance. They may even believe that the landlord's insurance covers all their personal belongings. But similar to most insurance policies, it's only an unnecessary expense until the worst happens, and you need to file a claim. • This article examines the many reasons why it’s a good idea to require that your tenants take out renters insurance. • What Does Renters Insurance Cover? • As with any insurance, coverage depends on the policy taken out and the terms and conditions. Generally, renters insurance covers the following: • Damages to personal property • Liability for injuries • Losses caused by theft • Natural disasters • Relocation expenses if the rental unit is uninhabitable • Keep reading the article here: • https://www.biggerpockets.com/blog/wh... • Subscribe to the BiggerPockets Channel for the best real estate investing education online! • Become a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com

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