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Updated 11 months ago,

User Stats

45
Posts
7
Votes
Andy S.
  • Investor
  • Somerset
7
Votes |
45
Posts

Renter Insurance Mandated By Landlord - What Coverage landlord must mandate?

Andy S.
  • Investor
  • Somerset
Posted

Hi All, I am a landlord in NJ and am seeking your guidance on what kind of renter insurance coverage I must make mandatory to the tenant.

1) So far I have been asking for following bare miniumum coverage. Is this coverage adequate? Am I missing anything I must add/modify?

                    Personal Property: $30,000

                    Personal Liability: $300,000

                    Replacement Cost: Included

                    Medical Payments: $1000

                    Loss of Use: $6,000

                    Property Damage to Others: $500

                    Mold Property Damage: $10000

                   Mold Liability: $50000

                  Tenant Pet Damage: $500

                  Additional Interest: Myself (the landlord)



2) With above coverage added to renter insurance, do I make it mandatory for the tenant to have a separate pet liability insurance?

3) Do I make it mandatory to have me added as Additionaly Insured?

Any guidance would be appreciated.


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