 Which Renter Insurance (by LordZen [MA]) Aug 12, 2018 9:43 PM
 Which Renter Insurance (by Vee [OH]) Aug 13, 2018 5:01 AM
Which Renter Insurance (by LindaJ [NY]) Aug 13, 2018 5:15 AM
Which Renter Insurance (by WMH [NC]) Aug 13, 2018 6:16 AM
Which Renter Insurance (by myob [GA]) Aug 13, 2018 6:23 AM
Which Renter Insurance (by WMH [NC]) Aug 13, 2018 6:35 AM
Which Renter Insurance (by Robert J [CA]) Aug 13, 2018 8:33 AM
Which Renter Insurance (by Johnny B. [MA]) Aug 13, 2018 9:39 AM
Which Renter Insurance (by Vee [OH]) Aug 13, 2018 10:18 AM
Which Renter Insurance (by myob [GA]) Aug 13, 2018 11:29 AM
Which Renter Insurance (by Jeff [CO]) Aug 13, 2018 1:57 PM
Which Renter Insurance (by WMH [NC]) Aug 13, 2018 2:32 PM
Which Renter Insurance (by Jeff [CO]) Aug 13, 2018 2:47 PM
Which Renter Insurance (by LordZen [MA]) Aug 13, 2018 3:11 PM
Which Renter Insurance (by Johnny B. [MA]) Aug 13, 2018 4:19 PM
Which Renter Insurance (by Jeff [CO]) Aug 13, 2018 4:36 PM
Which Renter Insurance (by LordZen [MA]) Aug 13, 2018 4:48 PM
Which Renter Insurance (by Jeff [CO]) Aug 13, 2018 5:01 PM
Which Renter Insurance (by Johnny B. [MA]) Aug 13, 2018 6:12 PM
Which Renter Insurance (by Jeff [CO]) Aug 13, 2018 6:57 PM
Which Renter Insurance (by LordZen [MA]) Posted on: Aug 12, 2018 9:43 PM
Message:
-Which Renter Insurance do you guys use for your tenants?
-Does the renter insurance required to have an specific clause, cover, for example: Liability must be over 500,000, etc etc.
-When i bought this property, there were tenants living here already, i gave rental application to 2 of the tenants, one of them said they do not need the rental insurance, even with me explaining them the benefits to this, is there a form that they can sign saying they refused this? Or is better to enforce the requirement of the rental insurance?
--66.30.xxx.x |
Which Renter Insurance (by Vee [OH]) Posted on: Aug 13, 2018 5:01 AM
Message:
The why of renters insurance is important and being named on the front page as beneficiary, I require it now for any walking pets as they have often has -normal cats- who have ruined the lower 16-24 inches of sheetrock with that awful ammonia type odor, and dogs who are harmless up to the minute they decide they want a 4year old human face or hand for a snack - then it was a provoked dog - I don't care if the dog/cat was in the unit for 5 minutes, 5 weeks or 5 months, the cost of eradicating fleas is the same and the deposit will not be enough to restore the unit to movein ready condition. Should you or me pay for this animal (not the 2 legged renter) actions? --76.188.xxx.xx |
Which Renter Insurance (by LindaJ [NY]) Posted on: Aug 13, 2018 5:15 AM
Message:
It is important you understand that even with all the explanations of the benefits of something, some people will not understand or care. That doesn't mean you can't require it as a condition of rental and you can do that at the next lease renewal, but not before since you are bound by the lease for its duration. (I prefer month 2 month agreements for that reason).
My agreement states, I am not responsible for there personal items. My insurance only covers my interests in the property. (house, garages, sheds, liability) That is what I really care about.
I don't buy the insurance for my tenant which sounds like you might be considering since you ask which company and signing to refuse. Whatever company they want they can use. I don't require it, but then my tenants are smart enough to understand the need for it. A lot depends on your tenant pool. --108.44.xx.xxx |
Which Renter Insurance (by WMH [NC]) Posted on: Aug 13, 2018 6:16 AM
Message:
You cannot buy insurance for your tenants. Well you can, but the policy is in their name and they can cancel at any time and get a refund. --50.82.xxx.xx |
Which Renter Insurance (by myob [GA]) Posted on: Aug 13, 2018 6:23 AM
Message:
On the pre move in sheet we give 3 insurance co's. Only a suggestion. You can have them show you they have it but really when you leave they could cancel and you wouldn't know it. We find that telling them to check with their car insurance person for cheaper rate works best. --99.103.xxx.xxx |
Which Renter Insurance (by WMH [NC]) Posted on: Aug 13, 2018 6:35 AM
Message:
Also, it seems Renter's Insurance won't cover pet DAMAGE. From Esurance web site:
"Generally speaking, most homeowners and renters insurance policies won't cover any personal belongings damaged by your pet. That also applies to the structure of your place (if your new puppy chews up the walls or your cat destroys a large patch of carpet, for example).
Although the accidental damage may be sudden and unexpected, it's typically considered a financial risk you choose to take as a homeowner when you take domesticated animals into your home." --50.82.xxx.xx |
Which Renter Insurance (by Robert J [CA]) Posted on: Aug 13, 2018 8:33 AM
Message:
I tell the applicants turning into tenants to first check with there current insurance agents and I also provide them with a local agent who represents several carriers, so they can shop for a quote/better price. --47.156.xx.xx |
Which Renter Insurance (by Johnny B. [MA]) Posted on: Aug 13, 2018 9:39 AM
Message:
You mention “enforce the requirement of rental insurance”. Just to be clear, who’s requirement is this? It’s not a state requirement for them to carry insurance. If it’s a requirement that you are imposing on your rentals/tenants, it’s difficult to enforce, as others have already said. You do not need them to sign any type of refusal to obtain the insurance, as there wouldn’t be anything you could do with that signed refusal. --24.147.xx.xxx |
Which Renter Insurance (by Vee [OH]) Posted on: Aug 13, 2018 10:18 AM
Message:
When you are named in the declarations page the agent will give written confirmation of a policy lapse - resulting in a tenancy lapse. --76.188.xxx.xx |
Which Renter Insurance (by myob [GA]) Posted on: Aug 13, 2018 11:29 AM
Message:
never heard of anyone here evicting someone for letting renters insurance lapse? --99.103.xxx.xxx |
Which Renter Insurance (by Jeff [CO]) Posted on: Aug 13, 2018 1:57 PM
Message:
Johnny B., what you said is false. You can easily require renter's insurance with the landlord being named as an additional interest.
Please state or cite a reason why a legal lease clause requiring renter's insurance wouldn't be enforceable in court. I am looking forward to your response.
--98.245.xx.xx |
Which Renter Insurance (by WMH [NC]) Posted on: Aug 13, 2018 2:32 PM
Message:
Jeff/CO it probably IS enforceable. I think the point was if an otherwise law-abiding, rent-paying, biddable tenant let their renter's insurance lapse, would you evict?
LOL *YOU* probably would as I know you are stickler for the rules and will to the ends of the earth to hunt an errant tenant down and shoot him (KIDDING KIDDING!!!)
But most of us would not... --50.82.xxx.xx |
Which Renter Insurance (by Jeff [CO]) Posted on: Aug 13, 2018 2:47 PM
Message:
WMH, good one! :)
But yes, I wouldn't hesitate to get them out at the end of the next month if they were MTM, and would file for eviction otherwise.
This wouldn't apply to the kind of tenant that you described. You can't be considered to be following the rules but decide not to get renter's insurance. It's one or the other.
There is a reason why landlords require insurance, just as lender require the right coverage on properties that they have an interest in.
I have no doubt that most small landlords wouldn't evict for lack of insurance. I also don't believe that most even require it. And that's good for them.
It's just a level of risk that I am unwilling to assume. But that's just me.
--98.245.xx.xx |
Which Renter Insurance (by LordZen [MA]) Posted on: Aug 13, 2018 3:11 PM
Message:
-Thanks Vee, they don't have pets, neither i accept them in my Rental Agreement.
-Thanks LindaJ, i go by Month to Month tenancy, i wasn't going to purchase the insurance for them, just was looking for recommendations so i can passed to them. I am going to add this "I am not responsible for there personal items. My insurance only covers my interests in the property. (house, garages, sheds, liability) That is what I really care about" to my lease, if you don't mind.
-Thanks WMH, i wasn't going to buy the insurance for them, just to provide several options, also they don't have dogs and i don't allow them in my Rental Agreement.
-Thanks myob that is what i was trying to do, get the recommendations for later refer them this as a suggestion.
-Thanks Jeff, i went ahead again to talk to them about the insurance and show them some info, waiting for their answer, they are month to month tenant. --66.30.xxx.x |
Which Renter Insurance (by Johnny B. [MA]) Posted on: Aug 13, 2018 4:19 PM
Message:
Jeff[CO] - I never said it wouldn’t be enforceable in court. Read the post again. I said it’s a difficult thing to enforce. More specifically, after the tenant is a year into the lease and they let the policy lapse, is this something you are going to be ready to evict over, possibly risking lost rent and a court hearing? If so, then go for it. If not, then why bother putting it in the lease to begin with if your not going to hold the tenant accountable. Most landlords wouldn’t go full blown eviction over a lapsed renters insurance policy, assuming all else is ok with the tenant. --24.147.xx.xxx |
Which Renter Insurance (by Jeff [CO]) Posted on: Aug 13, 2018 4:36 PM
Message:
I don't know the percentage of properties owned and managed by small operators vs. the big ones. You do? I checked with some of the bigger landlords here and they do require it. Phone calls confirmed that they would evict if the tenant let their policy lapse, as would I.
I take my queues from the corporate landlords, who know what they are doing, as opposed to the mom 'n' pop types, who frequently do not.
There are plenty of landlords who would not evict. That's their right.
The bigger question involves having a tenant who is willing to be dragged into an eviction action over $150. Not my kind of tenant.
--98.245.xx.xx |
Which Renter Insurance (by LordZen [MA]) Posted on: Aug 13, 2018 4:48 PM
Message:
-Thanks Johnny B.
-Jeff good point here "The bigger question involves having a tenant who is willing to be dragged into an eviction action over $150. Not my kind of tenant." --66.30.xxx.x |
Which Renter Insurance (by Jeff [CO]) Posted on: Aug 13, 2018 5:01 PM
Message:
Thanks, LordZen. Let me amend that: The bigger question involves having a tenant who is willing to be dragged into an eviction action over a $150 reasonable and legal lease provision violation. One that protects the tenant, as well. Not my kind of tenant. --98.245.xx.xx |
Which Renter Insurance (by Johnny B. [MA]) Posted on: Aug 13, 2018 6:12 PM
Message:
Jeff, you’re busted pal. You confirmed my point, that “there are plenty of landlords that would not evict” (over a lapse in rental insurance). That was my point, as I’ve explained twice. If it’s not something you plan to enforce and go full blown eviction over, than don’t get hung up on it. My true point was to ensure that the original poster did not mistakenly believe that he had to have tenants on a renters insurance policy, as was implied by his original post. Go troll people on bi gg er po ck ets. I’m going to make pancakes now. --24.147.xx.xxx |
Which Renter Insurance (by Jeff [CO]) Posted on: Aug 13, 2018 6:57 PM
Message:
All I confirmed, Little Johnny, is one thing:
1. Many landlords have no idea what they are doing, and are oblivious to needless risk exposure. You also missed the point about the value of a tenant who would go to court rather than buy required insurance, which was agreed upon in the lease.
2. You confirmed the accuracy of the nickname for folks who live in Mass. Well done!!! --98.245.xx.xx |
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