Landlords have good reason to be highly selective when choosing tenants. Renters have the potential to damage the interior of a living space to the point that it becomes unrecognizable.
Is it really possible for a Fontana, CA landlord to require that prospective tenants meet a renters insurance requirement? The Rock Hard Insurance Agency has the answer.
Landlords and the Issue of Renters Insurance
Most landlords have landlord insurance. Some even have business insurance as their properties are similar to hotels and bed and breakfast facilities. There might even be home insurance on the property.
Is renters insurance really necessary in addition to the other forms of insurance? Some landlords insist it is.
Is Renters Insurance Mandatory?
In short, no. However, it is in your interest to pay the small amount of money necessary to safeguard your belongings while renting.
Moreover, some landlords might require renters insurance to further prove prospective tenants can afford the cost of rent with room to spare. The assurance of insurance to protect belongings really does make it that much easier to head out to work, class or social events without worry. The additional insurance also provides landlords with valuable peace of mind.
More Reasons Why Landlords Might Require Renters Insurance
There is a chance that renters insurance will assist in covering the cost of damages resulting from liability claims. As an example, if renters insurance is in place, it might pay a portion of the financial cost if there is an injury on the property, ultimately softening the blow of liability.
Some landlords insist renters insurance makes it easier to accept new tenants with pets. Such coverage is applicable to the damage inflicted by a pet to people and belongings on the property. Renters insurance also has the potential to kick in to cover the cost of property damage caused during a party or other social get-together.
Get a Quote From the Rock Hard Insurance Agency
Are you in the market for renters insurance or other insurance in the greater Fontana, CA market? Give us a call today.
