Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Tell Your Tenants to Get Replacement Value Insurance
Here is a post from my team mate Brian Schulman.  It's the same advice I give to my tenants.
In Lancaster, PA this week, a family was burned out of their home.  They lost everything.  As a landlord, one of the things my leases have specified is that the tenants must have insurance on their personal possessions, as the landlord's insurance only covers the buildings and not their personal property. 
I make a point of advising renters to get replacement value insurance for their things, rather than actual cash value (ACV).  The example I use is:  let's say you lose your television in a fire.  Let's say the TV is 6 years old.  You will have to get a replacement - and you'll probably be buying a new TV.  If you're only insured for ACV, you'll only receive what that TV would be worth in a garage sale or re-uzit shop.  Think about what your used clothes would be worth now - and what you'd have to pay to replace them!  Plus, the difference in premium cost between the the two coverages is really minimal.
 There's a parallel in insuring older homes in low-priced areas of cities.  Often it would take quite a bit more than a ... more

__________________________________________________
Are you on The Rain? Grow Your Network!