So I am looking for a way to better cover myself against renters that might damage my property while living in one of my units. Would requiring renters insurance for all tenants cover me in cases such as major damage to appliances, walls, flooring? Would the tenant's renters insurance cover illegal activities like pot grows or meth labs that might severally damage the property.
Also, could I personally take you a renters insurance policy on my tenant, and file a claim if any of the above issues were to arise?
Thanks for the help.
No..... or ALL landlords would be doing it.....
Nope. Renters insurance typically covers the tenants property in case of a flood, Fire, etc. and provides some liability coverage ($100K).
There are supposedly some security deposit policy type insurance out there. It’s not technically insurance. There have been some discussions about it here on BP.
The best solution I think is to vet tenants well and find tenants that won’t destroy your house.
Thanks for you replies.
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