Home owner renters insurance is easy and affordable
In the case of apartment buildings and other high traffic, high volume investment properties, it is usually up to the individual tenant to insure his or her personal property, as well as obtaining insurance to cover liability for anyone who may be accidentally injured at his/her residence. In the case of a single family investment property, however, it may be possible to offer that prized tenant an incentive to continue to occupy the property by obtaining home owner renters insurance. It is a small price to pay for reduced turnover, and any landlord with experience knows that turnover is the number one cause of income loss from rental properties.
Many homeowners are already familiar with the convenience and financial benefits that come with “bundling” their home and auto insurance together with the same company. Why not ask your insurance professional about the possibility of adding home owner renters insurance to the coverage you already have? Of course, you will not want to carry unlimited coverage on someone else’s personal property. At the same time, if a visitor is accidentally injured on a property that you own while it is occupied by a tenant, you want to eliminate all possibility of becoming involved in someone else’s lawsuit.
If the rental property was vacant and even a trespasser or paper carrier was injured there, the owner would be liable for damages incurred, so maybe it’s time to cover all the loopholes in the law. This writer is not an attorney and does not profess to offer legal advice. Far from it. However, the writer has been both a tenant and a rental property owner, and has learned that it is well to try and plug all the gaps. If this shoe fits you, investigate the possibilities of home owner renters insurance.
In this short post, no attempt is made at completely covering this complex subject; this is merely a suggestion for prudent property owners. Anyone wishing to learn more can do so by getting on the Internet, choosing a trusted search engine website and typing in “home owner renters insurance.” The search results will take you as far as you need to go.
