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How does a landlord benefit if their tenant gets renters insurance?
"The benefit for the tenant is obvious — their belongings are covered. But what benefit is there, if any, for the landlord?
"
Jackie Whalen · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Landlords benefit tremendously if their tenants have renters insurance. The landlord is protected if the tenant damages the property because they can sue the tenant and be paid from the liability coverage on the insurance.
If the tenant is displaced from the home due to a fire or water damage, the tenant is able to take advantage of their loss of use coverage to stay in a hotel; the landlord doesn’t have to pay for this out of pocket.
“
View full answer
- Gregory R.
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