All Forum Posts by: Princesa Hansen

Thank you all for awesome feedback. It's detailed and very helpful.

On the renter's insurance policy, do you require yourself to be named as "additionally insured" or as an "interested party"?

We have half a dozen rental units (homes & townhomes). We have generally prohibited allowing pets. However, I see many postings saying that it can be a wise strategy to allow them in rentals.

We were recently weighing our options, and so I started with a conversation with my insurance agent. She strongly cautions against allowing pets because of liability. Obviously we can exclude the prohibited dog list. However, if anything happens, she cautions that our policy likely won't be renewed after the incident.

So, for those of you who allow pets:

-What is your thinking on these issues? 

-How do you address liability & increased risk?  

-What sort of language do you use in your lease?

Tenants in our townhome reported that their garage door was hit & damaged. It's clearly dented and broke hinges, so not fixable and needs to be replaced. However, they claim no knowledge of how it happened and don't want to be responsible for damages.

It clearly wasn't our negligence. And since it's a private driveway, most likely the person who caused the damages either lives there, visited someone who does, or was delivering something to them. This isn't normal wear and tear, and we clearly didn't cause the damages, so I believe the expense should be covered by the tenants. Anyone can claim ignorance, but it was damaged during their tenancy and likely related to their use of the home. 

We can look into auto coverage and rental coverage, but they want us to pay any deductibles. How would you approach this?