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Updated almost 5 years ago on . Most recent reply

Simond Wong's profile image
Simond Wong's profile image
Simond Wong
  • Investor
  • from Oklahoma City
  • Member since Nov 17, 2019
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Simond Wong's profile image
Simond Wong's profile image
Simond Wong
  • Investor
  • from Oklahoma City
  • Member since Nov 17, 2019
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Simond Wong
  • Investor
  • Oklahoma City
5
Votes |
56
Posts
General Landlording & Rental Properties

To or To Not Req. Renter's Insurance?

Simond Wong
  • Investor
  • Oklahoma City
Posted

Do you require renter's insurance, why or why not?

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Kenneth Garrett's profile image
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Kenneth Garrett
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  • from Florida Panhandle/Illinois
  • Member since Dec 1, 2016
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Kenneth Garrett's profile image
Kenneth Garrett's profile image
Kenneth Garrett
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  • from Florida Panhandle/Illinois
  • Member since Dec 1, 2016
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Kenneth Garrett
  • Investor
  • Florida Panhandle/Illinois
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Kenneth Garrett
  • Investor
  • Florida Panhandle/Illinois
Replied

@Simond Wong

I require renters insurance 30K/100K and I must be named as additionally insured.  This way I will be notified if they cancel the policy.  I had a rental unit that caught fire on December 24, 2018.  Fire loss was in excess of 140K.  The tenants lost all of there belongings.  The policy would have assisted with our fire coverage as well as the tenants.  Cigarette smoking caused the fire. 

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