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Should you care if your tenants carry renters insurance?
Did you know that if your tenant causes damage to your property you may be able to file claim against their renters insurance?  Everyday in the news accross the United States there is a story about a fire caused by the stove being left on, a candle left burning, or overused old extention cords.  Everyone of these occurences is negligence.  Most renters policies carry a minimum of $100,000 in liablity coverage.  You can hold people liable for their negligence which means you can recoupe those damages from their liablity coverage on the renters insurance.
What does that mean for the property owner?  If you have a claim most insurance companies surcharge for that claim based off of the level of payout.  If the insurance company gets the money back through subrogation then there may not be a surcharge.
In the state of Oregon you can force renters to get insurance as a condition of the lease.  You can not force them to buy from anyone agent or company but can require to be listed as an additional insured.  Just imaging the tenants opinion of you if there is a fire and they get reimbursed for their personal property because you forced them to carry ... more

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