Requiring rental insurance on SFH.
Hi everyone, I have decided that I am requiring my renters to purchase renters insurance With 10,000 personal property and 300,000 liability and that I will be added as an additional interest so I am notified Incase of cancellation. I want to add an extra layer of protection Incase someone is hurt on one of my properties. I spoke with an agent and he said would be 10-15 monthly.
My question for those that require renters insurance is; should I require them all to purchase insurance from company of my choice as to hopefully keep all policies and coverages the same or let renters pick out their own company? What is your policy? Thanks for your thoughts!