“I’m a landlord. Does my insurance policy cover my tenants’ contents in the event of a fire?”
This is a common misconception, by tenants and landlords alike, and a question that we are asked very often. Many people mistakenly think that the landlord’s insurance policy will provide coverage for the tenants. In reality, this is not the case at all.
Landlords who purchase insurance are buying policies that protect the building itself, as well as their liability as owners of the building. Landlords’ policies do not provide coverage for any tenant-owned contents in the building. We recommend that landlords require, or at least strongly suggest, that their tenants purchase renter’s insurance. Renter’s insurance will cover tenants’ belongings should a fire or theft occur, as well as provide personal liability coverage for them.
We previously did a blog all about renter’s insurance and the benefits of having tenants purchase it! You can find that blog here.
If you have any further questions about asking tenants to purchase a renter’s insurance policy, or if you are a tenant yourself and are interested in purchasing such coverage, give us a call at (401) 723-8510. We would be more than happy to discuss the policy in further detail. You can also visit our website here to find more information.
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