I am using the Bigger Pockets lease for MA residents. There is a clause about renter's insurance (#19.B). My question is, do other MA landlords require tenants to get liability coverage in addition to coverage for personal property. If so, how much coverage do others require? As owners, we carry a $1,000,000 umbrella.
I always require a minimum of 30K personal property and 100K liability. I had a fire in one of my buildings, 150K plus of damage. If I had required renters insurance there policy would have covered some of the damage as it was caused by there negligence.
Insurance Agent · Norwalk, CT · Member since 2016 · 2k+ posts · 1k+ votes
6y
Bruce
The standard Renters policy includes both personal Property, Additional living expense, and Liability. I would suggest $300,000 or $500,000 limits for the liability requirements based on our area. The Tri-state area and New England are more litigious.