Next to collecting rent, protecting your investment is one of the most important things you can do as a landlord. Requiring renters insurance is a step that not many DIY landlords take, but is one that may prove to be the protection that your property needs.
Even if you do your best to ensure that your renters are always qualified, and even if you constantly maintain your property in top shape, without proper insurance you leave yourself exposed to liability due to unforeseen events.
Aside from standard liability and property insurance that every landlord should have, renters insurance has many landlord benefits, despite being a product designed for renters.
In this article, we will review the landlord benefits that are embedded in most renters insurance policies and explain why you should consider requiring renters insurance from all of your renters.