OfflineI own several rental properties, and I was hoping to get advice on landlord insurance to secure me should one of my tenants sue me.
How much insurance should I carry, and any recommendations on where to purchase this insurance.
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Landlord's Insurance
Posted on: Fri, 01/01/2016 - 01:57
http://www.insurancejournal.com/magazines/features/2010/11/01/160324.htm
You do have these under an LLC?
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Aaron
There are a bunch of types of landlords insurance. The policy is not very cheap, so I recommend you to consult with insurance agent. I’m sure they will provide you with the best advice. And remember you don’t have to insure your tenants’ possessions - that is their responsibility. However, I strongly recommend to require your tenants to buy renters insurance. The top benefit of requiring tenants to purchase renters insurance involves keeping you out of court. When damage occurs to a renters belongings, and if the tenant does not have rental insurance, there’s a high probability the tenant will try to claim some type of landlord responsibility.