Requiring renters insurance

[Brian Springfield]

I’m a “small time” landlord with SFHs.

Up to now I have not been actively requiring renters insurance in my leases.

I once had tenants with a large dog, and in that case I put a clause in the lease stating that they would acquire and hold renters insurance including pet coverage, but I never asked them to show me proof. 

How mandatory is it? Am I setting myself up for grief by not taking it seriously?  

What happens if the lease states they are required to have it but they never bother? Would that in any legal way absolve my liability and place it back on them?

If not - how do you all make sure the tenant has renters insurance, that it covers personal property, liability, and animals, and how do you make sure they don’t turn around and cancel it right after they move in??

Thank you!!

[Adam Martin]

I just recently had a successful 5k claim where the tenants movers didn’t properly disconnect the washer upstairs.  The water dripped through the ceiling and onto the hardwood ruining it.  Protecting their valuables is important but don’t forget it also protects them from liability and can save you from filing a claim.  This was not enough to be worth filing a claim for me and the tenant didn’t have 5k so this could have gone poorly without the insurance so I always require it.