I'm not quite sure I understand where this option fits... If my owners have property insurance and my tenants have renters' insurance, this is not necessary, is that correct?
My understanding, Renter's insurance covers property damage in the event it is accidental by the tenant. The landlord would not have a claim on their policy and then premium increases or cancellation. This is a stop gap to ensure tenants have the insurance in place. It does not cover the tenant but still covers their liability portion if they have not signed up for renters insurance, or if there is a gap.
It looks wonderful 🎉
I'm not quite sure I understand where this option fits... If my owners have property insurance and my tenants have renters' insurance, this is not necessary, is that correct?
My understanding, Renter's insurance covers property damage in the event it is accidental by the tenant. The landlord would not have a claim on their policy and then premium increases or cancellation. This is a stop gap to ensure tenants have the insurance in place. It does not cover the tenant but still covers their liability portion if they have not signed up for renters insurance, or if there is a gap.
Does this work for commercial properties as well?