Updated over 8 years ago on . Most recent reply
Tenant Insurance requirements
Hi all, this weekend I will take my first steps in my real estate investing career by listing my home for lease. I feel like I have everything covered except for one item, insurance.
I have been advised to get a policy in my name to cover the property and general liability. I know the tenant needs renters insurance, but should I be added as an additionally insured? Do they need coverage that is sufficient to fix/repair/rebuild the home due to their negligence?
Also, lets say the value of the home is $310,000. How much in coverage for each should I get?
I would appreciate anyone's advice on how they structure their insurance.
Thank you