I'm renting out part of my house to family and I've verified this is kosher with my existing homeowners policy. However, I want them to get coverage for any property damage they may cause. It seems like personal liability on renters would require suing them, which I'd rather avoid.
Anyone know of carriers that offer Tenant Liability/Damage Insurance that the average homeowner can purchase to protect against this? Open to other ideas if I'm thinking of this completely wrong as well
Carriers for Tenant Liability/Damage Insurance?
byu/biotechkryptonite inInsurance
Posted by biotechkryptonite
1 Comment
Your “tenant” would need renters insurance. That will give them protection for their belongings (because there is no protection otherwise) and protection from any property damage they may cause to your home. Your homeowners carrier would sue them anyway for any damage they would potentially pay for, so if they have a renters policy, they can go after that instead.