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Sheila S | Can an apartment complex require you to have renters insurance before renewing your lease? |
My apartment complex is requiring us to have renters insurance before we can renew our leases. Is this legal? |
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Mr. T's Pretty Cuzzin
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Yes. Why would you not have it? It's like $50 per year, but the coverage could save you from bankruptcy if you accidentally left the stove on and your apt burned down, or you didn't make sure the bbq grill was all the way out, or didn't report plumbing problems and that flooded the entire building, or other not-too-farteched things that actually could (and do) happen. |
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Kilalita
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If it is written into the new lease agreement, then it is legal (as long as you are being informed before you sign it, which it appears you are) This probably cuts down on a lot of their liability and would be something good for you anyway. If someone sets your building on fire or some other catastrophe happens that cannot be linked directly to negligence by the management, without renter's insurance, you will be left with nothing. Shop around, I'm sure you can find an affordable policy. |
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kissybertha
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Yes they can and it would be very wise for all renters to do this, do you know if there is a fire only the landlords building is covered not your personal effects. so it would be wise. |
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fighting saints
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Sheila,
Inmost states it is legal, but check with your local authorities.
Do yourself a favor and get the insurance. It is the cheapest peice of mind you will ever buy. If you damage the building (start a fire with a candle, start a grease fire while cooking, overflow the bathtub or sink etc.) the renters policy pays the damages not you. The coverage is very cheap ( I pay $11.00 per month for my son who is in college).
If you don't carry the coverage and you have a loss the landlords policy will pay him /her for the damages, then they will come to you for reimbursement. If you don't have renters insurance then they have the legal right to collect directly from you. You could face a lawsuit, wage garnishment, interest added to original amount etc.
I strongly recommend you just buy the policy. I manage a company that insurance companies hire to collect reimbursement from uninsured parties. So please trust me when I tell you it is not worth the risk to go uninsured. We have several people who will be making large monthly payments for 10 + years because they didn't have renters insurance and were negligent in damaging the building they lived in. |
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angel09
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Like others have said, if it's written into your lease agreement. It's a way for them to cover their butt should something happen to someone while they're in your apartment (your space). There are several ways the landlord can now be sued if you do not have the insurance. |
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mbrcatz
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Yes. And it's a darned good idea for you, too. It will cost less than $150 A YEAR.
If you don't want renters insurance that badly, you'll have to find a new place to live that doesn't require you to have it. It's written into about 90% of leases, but most landlords don't enforce it - they just quote it, when, for example, there's a fire in your building and all your stuff burns, and you want THEM to replace it. (Not their problem). |
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Gambit
 |
It is. Most landlord's/managers do not really care if you have proper coverage for your contents, since the landlord isn't responsible for damage to your contents unless you can show that they were somehow negligent. They are more concerned that you have proper liability coverage, which all Tenant's Policies do (I have yet to see one that didn't). So if any of your guests are injured while on the property, the landlord wants to ensure that, if your guests sue you, you have the ability to cover their damages, or else if the landlord is named as a co-respondant in a lawsuit the judge may decide to levy all the damages on them (since they would have their own policy and have the ability to pay), and then they would have to sue the tenant to recover their portion of the damages (which would be unlikely unless the renter was hoarding tens of thousands of dollars somewhere). While a Tenant's Policy is always a good idea, in reality the landlord is looking to cover their butts! |
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crippler5511
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I think it is because we had to show proof of having renters insurance before we could renew our lease for our townhouse |
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View from a horse
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Yes, they can, if it's in the lease.
And you should have it! The cost is minimal - maybe $25 a month, but it will pay thousands and thousands to replace your belongings if your apartment is destroyed.
Landlords would want you to have it for many reasons:
1) It pays for your items if they are lost because of your mistake, or the mistake of someone in another unit, or just a windstorm, etc.
2) It pays for damage to other renters' property if you make a mistake that causes damage to their unit.
3) It pays for injury to another person (through the liability clause), if you do something stupid and someone is hurt or killed.
4) It pays for you to live temporarily somewhere else if your unit becomes uninhabitable from a covered risk.
If you were MY neighbor, I'd be glad you had it. If I was YOUR neighbor, and something I did cause damage to your property, you'd be glad I had it.
The landlord is being a good landlord if they require this. |
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bundysmom
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It depends on your state law, and it depends on your lease. If it says you do, then you do...but again, your lease has to conform to state law. |
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rdwmktg12
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only if your original contract sepcifies that you must have renters insurance.that maybe a good idea because yo are unprotected in most states if you dont have it. |
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stegall_sherry
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I have lived in several apartments and I have never been told that,I dont see how they can because Renter Ins only covers your personal property and your lease should state the apt owners are not responsible for your personal property.I just dont see how that is legal but I am not a attorney either .Good Luck |
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