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| *Ostroff, Fair and Company>>>Insurance |
Tenant insurance? |
Tenant insurance? Basic tenant's coverage is usually around $125 per year. Be sure to get Replacement Cost coverage, otherwise your damaged/stolen property is paid at a depreciated value based upon age. Water leaks are not covered, but if a pipe burst, or anything else that is "sudden and accidental" it usually will be. Some companies give a small multi policy discount if you have your home/tenants and auto insurance with the same carrier. Definitely get it.It's fairly inexpensive. Probably. Tenant insurance is so cheap you should always get it. You never know how lax your neighbors are. It is cheaper than you having to pay to replace your possessions yourself. I paid homeowners insurance for 20 years and never had a claim. Lived in an apartment while building a new house. Bought renters insurance for $125 a year. Had a breakin and collected a $1,750 loss. Yes, you should get one. I own a house and insist taht my tenants will purchase one, in case of theft, fire or water leak you will be covered. The owner is not responsible for your personal property. If you have a pet and he attack a child you will be protected too, parents to small kids if the have a medical bill will go after you. Yes. |
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