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Old 12-01-2016, 10:24 AM
 
Location: Washington Park, Denver
6,902 posts, read 6,489,921 times
Reputation: 7347

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Quote:
Originally Posted by Sunderpig2 View Post
That's ridiculous enough, but what else might they come up with? It's a big toss of the dice. I'd get away fast from that place...
$15 a month is not ridiculous.
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Old 12-01-2016, 10:55 AM
 
Location: Highlands Ranch, CO
556 posts, read 575,075 times
Reputation: 837
Quote:
Originally Posted by SkyDog77 View Post
$15 a month is not ridiculous.
By renter's insurance only cover personal property of the residence right, not actual physical damage?. It's not like this guy has a million dollars worth of stuff in his apartment, and even if he did isn't it his right to determine whether or not he wants to insure it?

Even if it was for property damage to the apartment, isn't that what a security deposit is for? And say the damage was beyond that, the guy could burn his apartment to the ground and it not be a million dollars in costs. If my house is not a million dollars that apartment sure as **** isn't either.
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Old 12-01-2016, 10:58 AM
 
Location: lakewood
572 posts, read 396,685 times
Reputation: 309
My tenant has a very large aquarium, in a third floor condo.
His policy requirement, from me, was obtaining one that would cover any water damage to the unit (and those below), should the tank fail...


BTW, if he was at fault for the damage to the unit and others in the complex; any other policy holder's insurance company and the association's would likely try to subrogate their claim...
damage remediation costs add up very quickly...
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Old 12-01-2016, 11:16 AM
 
Location: Washington Park, Denver
6,902 posts, read 6,489,921 times
Reputation: 7347
Quote:
Originally Posted by guyatwork37 View Post
By renter's insurance only cover personal property of the residence right, not actual physical damage?. It's not like this guy has a million dollars worth of stuff in his apartment, and even if he did isn't it his right to determine whether or not he wants to insure it?

Even if it was for property damage to the apartment, isn't that what a security deposit is for? And say the damage was beyond that, the guy could burn his apartment to the ground and it not be a million dollars in costs. If my house is not a million dollars that apartment sure as **** isn't either.
It's liability, not property, that the landlord is concerned with. Think: Tenant has a friend over who trips on tenants lamp cord, then puts hand through tenant's aquarium cutting a tendon that requires multiple surgeries to fix.
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Old 12-01-2016, 12:07 PM
 
Location: The Berk in Denver, CO USA
13,941 posts, read 20,179,537 times
Reputation: 22554
Quote:
Originally Posted by SkyDog77 View Post
It's liability, not property, that the landlord is concerned with. Think: Tenant has a friend over who trips on tenants lamp cord, then puts hand through tenant's aquarium cutting a tendon that requires multiple surgeries to fix.
And friend sues landlord for allowing electricity in the apartment.
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Old 12-01-2016, 12:31 PM
 
Location: Washington Park, Denver
6,902 posts, read 6,489,921 times
Reputation: 7347
Quote:
Originally Posted by davebarnes View Post
And friend sues landlord for allowing electricity in the apartment.
For damages of $600,000 due to ruined hand modeling career.
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Old 12-01-2016, 01:09 PM
 
1,822 posts, read 1,388,724 times
Reputation: 2087
Quote:
Originally Posted by SkyDog77 View Post
For damages of $600,000 due to ruined hand modeling career.
Yeah, we don't need another Ray McKigney incident (cue drum roll).

What's really fun is having an aquarium sitting on a water bed, with a nearby knife collection balanced on a pendulum, guarded by bored security monkeys.
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Old 12-01-2016, 02:27 PM
 
865 posts, read 507,672 times
Reputation: 2341
You'd be incredibly naive to not pay for a "renter's policy" even if it wasn't required. It's your future at stake. I recommend that all my tenants get that insurance but I don't require it.
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Old 12-01-2016, 02:49 PM
 
1,822 posts, read 1,388,724 times
Reputation: 2087
Quote:
Originally Posted by Campfires View Post
You'd be incredibly naive to not pay for a "renter's policy" even if it wasn't required.
In your opinion maybe. But on the other side of the coin, it's a frugal approach and exercising of one's freedom of choice by not getting that type of policy. I've lived for decades and have never had renter's insurance. Sure, something could happen, and it's a bit of a gamble, but so far, I've saved a lot of money and see the weight of evidence in my corner.

I'm not particularly materialistic, and worst case, if my stuff burns, I'll probably celebrate the thinning out of stuff. It can be quite liberating. And that's on top of not being pressured by others to do as they want, and not what I want. To each his own. Feel free though to load up on those insurance policies, warranties on electronics, etc. I'll use my money on things with traceable value and return on investment. We'll see who wins at the finish line.

Last edited by Sunderpig2; 12-01-2016 at 03:01 PM..
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Old 12-01-2016, 02:58 PM
 
Location: lakewood
572 posts, read 396,685 times
Reputation: 309
my tenant, a journeyman or master electrician (I'm not sure what his trade status is anymore),
had all of his tools stolen from his work truck just before he had asked if it was cool to grab the aquarium...


so, for him, I think the insurance policies are a smart, prudent move...
we are talking likely 10s of thousands in tools that were stolen from this man...


everyone's situation is different
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