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Hello all,
I am subleasing a room in a house from the tenant- she thinks she has renter's insurance- I've asked her if her policy covers me. Even if she does have renter's insurance (I'm thinking she would have to per landlord's lease), is it recommended to get my own? I'm thinking I would like to, just for my own protection. I had purchased it before from Assurant but they do not offer it to subleasers.
I googled and cannot find resource that lists insurance for subleasers, only renters. Where can I purchase it from?
I would not rely on the tenant's vague assurances -- she thinks she has renter's insurance, she thinks it may cover you ... If I were you I would buy renter's insurance to cover my own belongings and to protect myself from liability claims. It's usually inexpensive.
I don't believe there is such a thing as subtenant's insurance. I think you just buy your own policy of renter's insurance. AFAIK you just give the insurance company some proof that you're renting from the tenant.
Get your own insurance. Even if the tenant has insurance, since you are not listed on that insurance, they likely won't cover your items, just the tenant's. On top of that, if her insurance lapses and the place just randomly exploded, you'd be completely out of luck.
It's really cheap, my girlfriend and I pay about $115 a year for $20,000 of personal property coverage, $100,000 of liability coverage, and a $250 deductible. That's less than $10 a month, and we actually upped the personal property coverage amount, so it could be even cheaper! Don't cheap out: if you do, you'll kick yourself in the butt later if something happens.
Not to piggyback but I can't help reinforcing this, GET INSURANCE. The other person's policy does not cover your personal property. You need to get it to cover your personal property but more importantly, your personal liability. No one plans to be neglectful but I can assure you it is best to have it in the event you are found at fault for any claims. Be sure to get quotes from a few different companies and carry at least $100,000 in personal liability coverage. You can get that for around $100-$150 for the year. The cost of a pizza per month!
Get insurance. When we lived with my mother and were paying rent, her homeowner's insurance was really sketchy on if they covered our possessions or not. So we kept the insurance that we had before.
I've used eSurance, Unitrin, and Travelers. I like Travelers the best and have had them for 3 years now.
I second, or is this third, get rental insurance, however you need to make sure that your rental is legal in every way, shape and form. If not, you probably wont' get insurance and that's not a good thing.
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