Are you a Landlord?
Do you know WHY your tenants should have Renter’s insurance?
Your Liability exposure is one reason.
If your tenant has insurance, their liability claims will go to them first. Otherwise, they go to you and your insurance.
Which can raise your rates in the future.
Additional living expenses
If due an insurable claim, your tenant is unable to live in your rental suite. Renters’ insurance can provide the capital required to make temporary living arrangements. This can prevent arguments on who should be responsible for these costs.
Renters’ insurance is an important policy for any tenant to have. It reduces your risks as a landlord and ensures your tenants are well off in case of an emergency. Although renters’ insurance isn’t always mandatory, it’s something to encourage.