Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My landlord wants to be listed as an "interested party" on all tenants renters insurance. They pushed this back in the spring with mixed results as not all insurance companies will do this. Mine won't. When I told them, they mentioned other insurance companies were pushing back as well.
Got another email today saying tenants that do not comply will be fined. How am I supposed to comply if the insurance companies won't allow it? I've provided them with proof of renters insurance every time they asked for it, that should suffice.
This is a common request by landlords who require renter's insurance. It's simply a matter of them being notified if you have a claim or cancel/lapse your policy. This how my ins agent explained it to me.
What if renters insurance, by law, is NOT required? Are the tenants still to be told they must have renters insurance? And then list the landlord as an interested party?
What if renters insurance, by law, is NOT required? Are the tenants still to be told they must have renters insurance? And then list the landlord as an interested party?
I doubt there's a law stating it's not required. I'm sure the 'online lawyers' will chime in and correct me if I'm wrong.
If your landlord requires as part of the lease agreement, you have to comply, or find another rental.
The landlord IS an interested party....you're living in THEIR property and they want to make sure they know what's going on.
It's in the tenant's best interest to have renter's insurance..it's dirt cheap.
I doubt there's a law stating it's not required. I'm sure the 'online lawyers' will chime in and correct me if I'm wrong.
If your landlord requires as part of the lease agreement, you have to comply, or find another rental.
The landlord IS an interested party....you're living in THEIR property and they want to make sure they know what's going on.
It's in the tenant's best interest to have renter's insurance..it's dirt cheap.
I totally agree. After all, its YOUR property, so its in your best interest in getting it. I have it too, and my landlord doesn't require it. But I was wondering, if the landlord IS an interested party, does that mean they can cash in on a claim too? Like, if your home was broken into and all of your valuables are stolen, what happens? Just curious.
I totally agree. After all, its YOUR property, so its in your best interest in getting it. I have it too, and my landlord doesn't require it. But I was wondering, if the landlord IS an interested party, does that mean they can cash in on a claim too? Like, if your home was broken into and all of your valuables are stolen, what happens? Just curious.
No, your LL can not collect off of your insurance claims. Listing as an interested party only means that the LL will be notified if you ever cancel or let your policy lapse. It is just a way for them to have 'proof of insurance' for you. That is all.
Perhaps you could offer to give your landlord proof of your insurance payments? Offer a compromise. If your insurance company won't do what your landlord is asking, and your landlord just wants to know you're covered, offer to give him proof of your payment every month, or whenever you pay.
And by the way, if you have a lease, the LL probably can't just start making up new fines that aren't in your original lease. But, I'm thinking you could start out by offering proof of coverage, rather than arguing about his right to fine you. Put your offer in writing, just in case there are any issues down the road, like in an email.
What if renters insurance, by law, is NOT required? Are the tenants still to be told they must have renters insurance? And then list the landlord as an interested party?
I don't know of any state that forbids requiring renter's insurance, so your landlord can certainly make it a term of the lease. It's in the lease, it does not violate state law, so if you want to live there, you have to purchase renter's insurance.
If you don't want the insurance, no problem. Pass on that unit and go find one where the landlord does not require renter's insurance.
(note: in Oregon, renter's insurance can not be required of low income renters, at a very low income level-- just the people who probably need it the most because they can least afford losing everything they own)
I totally agree. After all, its YOUR property, so its in your best interest in getting it. I have it too, and my landlord doesn't require it. But I was wondering, if the landlord IS an interested party, does that mean they can cash in on a claim too? Like, if your home was broken into and all of your valuables are stolen, what happens? Just curious.
Why would they be able to 'cash' in on your claim? They can't...it's your claim, against your policy, for your valuables.d
Your insurance company might notify them of the break in, but you'd be the one getting the check in the mail.
They are an 'interested' party, just like your bank if you have car loan or mortgage. They both require proof of insurance.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.