Updated about 4 years ago on . Most recent reply
Rental property insurance
Hello! I might soon be purchasing my first rental property and needed some help. Is renters insurance needed? If so, why? Or is the landlord insurance all that is needed? Thank you!
Most Popular Reply
Bill B.
#3 1031 Exchanges Contributor
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
1) they don’t want their tennants who might not be financial secure to lose everything they own. (Both because they’re caring people and because it’s hard to pay rent when you need to buy clothes and a bed.)
2) there’s a chance the renters insurance will pay for damage caused by the tenant