Lanlord renters damage insurance

[michaelrj9]

What is the name of your state (only U.S. law)? Illinois

I am thinking of renting our upper scale home but am worried about property damage left by a tenant.


Is there insurance that a landlord can get that will cover property damage from a tenant?

Thanks

Michael

 

[ecmst12]

Some types of damage, yes. You should also require your tenants to carry renters insurance (get a copy of the policy).

 

[michaelrj9]

Some types of damage, yes. You should also require your tenants to carry renters insurance (get a copy of the policy).

Thanks for the reply.

What kinds of damage can you get?

I am really looking for insurance that will cover just about everything like: straight out vandalism, Problems that might be caused by a dog or cats like the carpet, chewing doors baseboards etc. Scrapes in the walls puroposly or accidental causing walls have to be repaired & repainted etc.

Is this the kind of insurance that I can get?

I know the cost will vary on the type of house how big etc. But is it usually at a resonable cost or will it double, triple my current homeowners insurance.

I hope that in the $2000 renting range that you will get good tenants but I want to be covered with the worse case possible.

I left a message to my insurance company still wainting for a call back.

Thanks for all your help

 

[tammy8]

Some types of damage, yes. You should also require your tenants to carry renters insurance (get a copy of the policy).

Exactly! If they can afford that kind of rent, they can afford a couple of hundred dollar renter's policy (make sure they carry high limits of liablity). Vandalizm and thief can be covered but normal wear and tear (like animal damage) is usually not something you can get without some special endorsement.

 

[E.Rodriguez]

You are going to have to carry rental home insurance if that has not already been mentioned.

Dont you have a insurance agent you can sit and talk to?