Renters insurance requirements

[Nadir M.]

Hello everyone, 

In regards to renters insurance, what does everyone look for when a tenant submits their policy to you? Does everyone over 18 have to have their names on it? Is there a category that must be included ie personal liability. Just want to make sure all parties are covered. what about pets? Flooding etc. 

thank you 

[Nathan Gesner]

Quote from @Nadir M.:

It doesn't need to have every tenant listed on it. As long as the person listed on the policy occupies the property, you'll be covered.

You should ask them to list you as "additional insured" on the policy. That will protect you under their liability clause. If the tenant's guest or invitee sues the Tenant, they will try to sue you at the same time but you'll be protected under the Tenant's policy instead of your own. You'll also receive notice any time the Tenant changes their policy or cancels it. This is an easy way to monitor compliance.