 Require renter ins (by Francine [IN]) May 25, 2011 4:08 PM
 Require renter ins (by Virden [OH]) May 25, 2011 6:45 PM
Require renter ins (by Erv [OH]) May 25, 2011 7:50 PM
Require renter ins (by in [IN]) May 25, 2011 9:38 PM
Require renter ins (by Ryan [IA]) May 26, 2011 5:13 AM
Require renter ins (by george [IL]) May 26, 2011 8:26 AM
Require renter ins (by Barbara [VA]) May 26, 2011 11:41 AM
Require renter ins (by Dave [MO]) May 26, 2011 12:10 PM
Require renter ins (by Francine [IN]) Posted on: May 25, 2011 4:08 PM
Message:
State Specific Question About: INDIANA (IN)
So happy I required my tenant to purchase renters insurance. Due to a hot water heater bursting from the unit above my rental, my tenant had to move to a hotel. They tell me their insurance is covering up to 6K for room and board while my unit is made "habitable" in addition to water damage to their personal property. Their lease, which is up August 22, 2011, was paid in full for one year as their credit rating was 100 points below my required minimum. I am told, in the interim, I am to repay (or discount) them 1/30-th of the full rent per day. My insurance will pay me the lost rental income and cover all damages after I pay my deductible. I can't say they are not inconvenienced, but so far they are enjoying the pool and other amenities offered through the hotel. Huge load off of me, not having complaints from them while I'm busy with the crew taking care of the cleanup and construction work ........thanks for all of you who gave me the heads up on this! --24.14.xx.xxx |
Require renter ins (by Virden [OH]) Posted on: May 25, 2011 6:45 PM
Message:
Hurry up with the repairs before they find out they have to pay the deductible, then the swimming pool will boil! --76.241.xxx.xxx |
Require renter ins (by Erv [OH]) Posted on: May 25, 2011 7:50 PM
Message:
Didn't realize you could 'require' someone to carry insurance. I'm not sure I would, but I do HIGHLY suggest/encourage that they do.
--174.101.xxx.xx |
Require renter ins (by in [IN]) Posted on: May 25, 2011 9:38 PM
Message:
Build it into the first months rent, or take it out of the damage deposit.
Cuts down your liability, and that is always a good idea. --67.163.xx.xxx |
Require renter ins (by Ryan [IA]) Posted on: May 26, 2011 5:13 AM
Message:
My understanding is that you can't require someone to carry renter's insurance. You can however require them to carry liability insurance. There is a difference. --173.17.xxx.xxx |
Require renter ins (by george [IL]) Posted on: May 26, 2011 8:26 AM
Message:
From my lease:
18. INSURANCE: RESIDENT acknowledges that OWNERS insurance does not cover personal property damage caused by fire, theft, rain, war, acts of God, acts of others, and/or any other causes, nor shall OWNER be held liable for such losses. RESIDENT is hereby advised to obtain his/her own insurance policy to cover any personal losses. OWNER is not liable for any loss incurred for items in storage locker, damage to vehicles in parking lot, and food spoilage for items in refrigerator at any time and under any circumstances. --144.188.xx.xx |
Require renter ins (by Barbara [VA]) Posted on: May 26, 2011 11:41 AM
Message:
I require insurance, but most don't get it. In fact, I doubt any tenants actually have it.
It does work out good for me when I can say "The insureance your signed lease requires you to carry should cover that. I reccomend you give them a call." Shuts them up real quick. --71.176.xx.xxx |
Require renter ins (by Dave [MO]) Posted on: May 26, 2011 12:10 PM
Message:
I don't require renters insurance but is recommended in my lease but after our disaster, 8000 units hit by EF-5 and high winds that if you were in the path or close you where affected by debris, coming through windows ect. rain. You may lose everything in an instant. I can attest to why they should carry renters insurance and we should carry a dwelling policy. --70.134.xx.xx |
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