Do I have to require my renters to have renters insurance?!?!
November 15, 2012 1:23 PM Subscribe
My independent insurance agent is insisting me that I require my renters to have renter's insurance in order for him to give me homeowner's insurance on a property I just bought.
posted by anonymous_account to Work & Money (26 answers total) 1 user marked this as a favorite
My renters are poor --- they pay in cash, but they pay their rent on time. I'm certainly not going to throw them out of their home if they don't have renter's insurance. My insurance agent is saying that the tenant's lack of renter's insurance puts me in danger of being sued. I think that this is extremely unlikely, and that it would stupid to throw good paying tenants out of their house because they don't have renters insurance. Is it true that I will be paying more for property insurance due to my stubbornness?