Renters Insurance

By
Services for Real Estate Pros

I was talking to friends a few days ago and the question arose about a tenant in an apartment.  She was angry because her personal property was damaged when a pipe burst and allowed water to flow into her apartment.  She was out of town at the time the damage occurred so did not notice the flow of water until it was too late to prevent the damage.  Her landlord told her he could not cover her loss as his insurance did not protect her property, and that she should have had renters insurance.

The landlord was correct!  If she had had renters insurance it would have protected her up to the limit of coverage on her policy for damage to her personal property due to the sudden and accidental release of water....  This coverage should not be expensive.  If you rent, talk to me or your insurance agent to learn more. 

I find a lot of people do not understand the coverages that are included in most renters policies.  I will write more on the subject in the days to come.

Comments (2)

Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Hi, Jeff

    I am not an Attorney, this is not Legal Advice, etc.   Nor am I an expert on Insurance.

   The Tenant may want to "Lawyer Up".  If it can be shown that a Negligent Act of the Landlord (faulty water pipes) resulted in a loss to the Tenant, she may be able to go after the Landlord for Damages.

 

  Having said that, I concur with your premise:   All Renters should Have Renter's Insurance!

Jul 08, 2011 05:45 AM
Al Raymondi
Ocean View Realty Group in Ormond By The Sea Florida - Ormond Beach, FL
Ormond By The Sea Florida - Home and Condo Sales

Renters and landlords absolutely need their own insurance Jeff, But the tenant should also turn off the water and take other measures to protect the property when away for more than a day or 2.

Jul 08, 2011 06:26 AM