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Do my tenants need renters insurance?

I recently purchased a rental property and will be offering it for rent for the first time. Do my tenants need renters insurance?

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Melanie Mergen · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
As a landlord, having your tenants get renters insurance is almost always a good idea. One of the biggest benefits is that when your tenants have renters insurance, it will lower your level of risk for a lawsuit if an incident ever occurs on your property.
Plus, renters insurance benefits your tenants by protecting their personal property and offering them
personal liability protection
and loss of use coverage if they should ever need it.
What you can require in a lease agreement can vary by state, however, so it would be good to consult with an attorney about what policy elements you have in mind.
If your tenants are looking for a place to start searching for renters insurance,
Jerry
can be of assistance. With Jerry, you can quickly and easily compare competitive quotes from top insurance companies to find the best policy for you at the right price. Jerry can also help your tenants bundle their home and rental policies for extra savings.
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