Do you require your tenants to carry renter's coverage

[Phil Workman]

It is my experience that many investors do not require their tenants to carry renter's insurance. My goal of this post is to educate one on some of the liability exposures of have uninsured tenants can pose- 

I am sure many landlords out there do a great deal of due diligence when searching for tenants. Many of you have specific processes in place to help mitigate the risks of tenants that pose a high liability to you. My question to those who don't require their tenants to carry renter's insurance- wouldn't it make sense?

Not only is renter's insurance cheap, but it mitigates many potential liability risks for both the landlord AND the tenant. 

Let's  use the example of a duplex- Let's say that the tenant on one side forgets that they left the turkey in the oven when they went our to the store- Kitchen starts on fire and burns into the other unit- The tenants of the other unit could potentially come after you.

 In my opinion, it's always better to be safe rather than "sorry". 

[JD Martin]

I recommend it but don't bother checking, as I have plenty of insurance to cover myself any way you look at it, and my insurance company will pursue any damages done by the tenant on their own - and if something bad happens and the tenant loses their stuff because they weren't insured, oh well.