All tenants are required to obtain renters insurance prior to moving into the property. Tenant shall be required to obtain a renters insurance policy with minimum personal liability coverage in amount of $1,000.00 per occurrence, which names Landlord and Broker as additionally interested parties. You will need to provide proof of insurance before you are given keys to the property. Renters insurance typically provides the following:
- Personal Property Contents Coverage – In case of fire, theft, and other occurrences covered by your policy, this coverage protects your personal property.
- Personal Liability – This covers you from claims made against you by someone else
- Additional Living Expense –If your current living arrangement becomes unlivable due to fire, theft, or other damages, this grants you money for living expenses.
- Premises Medical Coverage – This pays the medical expenses of visitors or other individuals who are accidentally injured on the property you are renting.