Many renters in the U.S still think that a renter’s insurance isn’t necessary, which is often a huge mistake. This is at least according to an article by Forbes.
Two reasons could try to explain this. One is that tenants are usually under the impression that the landlord’s insurance also covers their belongings. Unknown to them, this is not so.
Landlord insurance only covers structural damage to the home due to any covered perils. Such perils include snow, hail, wind, or fire.
Requiring your Snohomish County, Washington tenant to have a renter’s insurance is certainly worthwhile. It can cover property damage resulting from a covered peril.
So, in today’s post, we are going to look at 7 reasons why you should require renter’s insurance in the lease. (more…)