Both! It protects the tenant from damage to their personal property, liability from guest injury, and living expenses if their unit becomes uninhabitable. It also protects the landlord from liability and can reimburse landlords for certain tenant damage.
Here are examples of possible scenarios:
1. A guest of the tenant trips in their unit and incurs medical expenses.
2. A fire was started from the tenant's microwave and damages the unit.
3. The unit above floods and damages the tenant's unit.
4. The tenant's unit was broken into, and personal items went missing.
Depending on the property, location, and other factors, rates can be as low as $12/month. The tenant pays for renters insurance. There is no cost to the landlord.
In most states, you can require and make it mandatory for your tenants to get renters insurance coverage. Please check your local and state laws depending on the type of property you’re renting.
If you require it, your tenants will be able to purchase it directly from this service.
Renters insurance purchased through Renters Insurance Wizard is provided and offered by Sure.
Tenants can get renter’s insurance from any company, but we chose Sure because they had the easiest application process for tenants, gave instant quotes, and had competitive coverage and protection for both tenants and landlords.
Content and associated insurance products are provided by Sure HIIS Insurance Services, LLC (“Sure”), a licensed seller of insurance. The above does not in any way constitute an endorsement or referral by ClearNow of Sure’s products or services.
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