Why insisting tenants have renters insurance is imperative. We’ve all heard about the recent devastation caused by earthquakes, tornadoes, floods, hurricanes and fires that have swept the nation coast-to-coast. Forces of nature are not to be reckoned with and as a tenant, you should be proactive in protecting yourself financially in the off-chance you drastically lose the contents and personal belongings that make your day-to-day life happen.
Often, tenants have a false sense of security thinking that they will automatically be covered if something were to happen to the home they are renting from a landlord or property manager. It is not uncommon that lease agreements are written with the standard verbiage of something along the lines of “tenant shall hold the landlord/property manager harmless from any and all liability.” In layman’s terms, the landlord/property manager insurance policy covers the structure only, not the tenant’s personal contents.
No doubt insurance premiums can seem costly or a hassle, but imagine having to replace all of your belongings because a hurricane devastated your town last week. The expense and inconvenience of replacing all of your clothes, jewelry, food, furniture, TV, computers, your smartphone, and all of the supplies it takes just to live each day will sky rocket if you do not have renters insurance.
Linda Jamail Marshall, Broker,ABR,OSC,RECS
Innerloop Houston Tx. Specialist
2011 FIVE STAR Agent-Texas Monthly Magazine