You bought a beautiful home to provide you with income for you and your family. You spent thousands of dollars getting the home ready to be rented. You did you background checks and you rented the home out to quality tenants. Now it’s time to make a return on your investment.
The tenants fall behind or just tell you they are moving out. You weren’t expecting this so soon. Now what about the income you were planning on? Ok, setbacks happen, let’s get into the house, get it clean and ready to rent again. You show up and this is what you see …..
The siding on the garage has been melted. The neighbors tell you that they saw the tenants building a bonfire in the back yard and throwing furniture and all types of items into the fire. The heat from the fire melted your siding.
No problem – file an insurance claim. Damage to your rental by a tenant may not be covered. This is why it is important to know your policy and have an agent that will explain the coverage of the policy to you.
Ok, so you decide to sue the tenant. Well, they couldn’t pay the rent, how do you think they will pay the judgement? This is why it is important to require all tenants to have Renter’s Insurance and that you are named on the policy to get notifications of it being in force or not.
Call us at (317) 886-0081 to discuss your needed coverage as a Landlord and how to ensure that your tenants get renters insurance.