Owning a rental property can be a great source of income. Whether you have one rental property or a portfolio of hundreds it is imperative that you require each of your tenants to carry tenant insurance. While your primary insurance on the property will cover you for wind, fire, hail, etc. your policy may not cover damage caused by your tenants. For example, if a tenant left for vacation, turned the heat off in January, which then caused the pipes to burst; that is something that they are liable for and you can go to their tenant policy to pay for the damages.
Requiring rental insurance with specified liability limits will protect your property and your investment. We are happy to talk through what limits you should require and how to ask for proof of their insurance.