Maryland Residential Lease (Purchased from BP) Question.

[Lakshay G.]

Hello Everyone,

I have a question regarding the MD Residential Lease. On page 8, point 19B states 

"Landlord, in its sole discretion and for its sole benefit, shall cause the Premises to be insured as it deems appropriate. Tenant shall have no right or claim to any insurance or insurance proceeds of Landlord. Tenant understands and agrees that Landlord has no obligation to obtain insurance for Tenant including, but not limited to, liability, hazard, or contents insurance. Tenant shall, at Tenant’s sole cost and expense, obtain renter’s insurance covering the full value of all personal property of Tenant in the Premises, and providing liability coverage to Tenant in an amount not less than $_________, which policy shall name Landlord as an additional insured. Tenant shall maintain such renter’s insurance at all times during the Term of the Lease. Tenant shall provide a certificate of insurance to Landlord demonstrating that Tenant has procured the required insurance coverage, within ten (10) days after the commencement of the Term of this Lease and within ten (10) days after any renewal or change in such insurance coverage. If Tenant fails to procure the required insurance, allows such insurance to be cancelled or to lapse, or fails to timely provide the required certificates of insurance, the same shall be a Default of this Lease.

What should be the amount? I know this amount is circumstantial but what would be the number in general? It's for a 2 bed/1.5 bath row home property.

Thanks in Advance.

[Nicole A.]

I like having renters insurance stated as required in my leases. And the tenant should be listing the landlord as Additional Interest/Insured, and typically, you are then notified if the policy is dropped. I think the typical renter insurance liability amount is $100,000 but you could simply take out the line that asks for a specific number to make things a little more simple. 

There's definitely no need for that much detail listed in the lease in my opinion. So if it's going to cause headaches, just take that little piece out.