Renter's Insurance

[LaDerrick Langham]

If you have a duplex and occupying one side and renting the other, should you require the tenant to carry renters insurance?

[Bryan O.]

I have 3 reasons for requiring renter's insurance:

1. If their friend breaks their head open at a party, it's on their insurance rather than mine

2. If they completely destroy the property (I've seen that happen to a military landlord) then I might be able to do my $40k rehab through their insurance

3. Their belongings are covered if they're broken into (least of my concerns)

For something that costs $5-$15/month, it's nothing to require it and it's one more layer of asset protection for you. I would wonder why any owner would NOT require renter's insurance.