Landlords wants to be named on my rental insurance
Nov 4th 2010, 6:18 pm
#166
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Re: Moving to MI, Plenty of Questions...
You are wrong, landlord's are NOT liable for the contents of an apartment ...eg that which belongs to the renter.. Renters insurance is a must in my opinion. I've had friends who have lost all the contents of their apartment because they did not have renters insurance. An apartment in their block caught fire and all my friends worldly goods were ruined by smoke and water damage. They had to start from scratch.
As someone has already mentioned, the cost of renters insurance is quite low and well worth the peace of mind.
As someone has already mentioned, the cost of renters insurance is quite low and well worth the peace of mind.
Renters Insurance $100 - $500, depending on State, would have to be crazy not to get, "Cousin Jimmy, trips in your apt & sues you, No Liability ins", screwed.
I don't know how people sleep, at night, without some Insurance protection.
Reg. Frank R.
Nov 4th 2010, 6:24 pm
#167
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Re: Moving to MI, Plenty of Questions...
Ok, here's what I do know from experience. If a pipe breaks and causes water damage to the renters property the landlords insurance policy will cover it. If a wall outlet shorts out and causes a fire that causes smoke damage to the clothes and furniture of the renter, the landlords policy will cover that as well. If a renter accidently breaks a cabinet, dishwasher or window, the landlord is on the hook for that too.
From where i'm standing the Landlord is liable for everything. Now thats just an opinion
From where i'm standing the Landlord is liable for everything. Now thats just an opinion
TOTAL, misinformation. If your my tenant or Landlord's renter, your going to get charged & its coming out of your deposit. This is not just true of USA, its true everywhere. Where have you been living, that Landlords, let you break stuff & get away scot free?
Frank R.
Nov 4th 2010, 9:22 pm
#168
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Re: Moving to MI, Plenty of Questions...
Ok, here's what I do know from experience. If a pipe breaks and causes water damage to the renters property the landlords insurance policy will cover it. If a wall outlet shorts out and causes a fire that causes smoke damage to the clothes and furniture of the renter, the landlords policy will cover that as well. If a renter accidently breaks a cabinet, dishwasher or window, the landlord is on the hook for that too.
From where i'm standing the Landlord is liable for everything. Now thats just an opinion
From where i'm standing the Landlord is liable for everything. Now thats just an opinion
Nov 5th 2010, 12:32 am
#169
Banned
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Posts: 333
Re: Landlords wants to be named on my rental insurance
First of all we are not talking about the U.K. and secondly, just forget it. I'm just going to have to respectfully disagree with everyone here.
Lets leave it at that.
Lets leave it at that.
Nov 5th 2010, 1:19 pm
#170
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Joined: Sep 2010
Posts: 47
Re: Landlords wants to be named on my rental insurance
I'll just throw out another vote in the "I've never heard of this" department. I'd personally refuse to do so without an explanation that held water to me.
Nov 5th 2010, 4:48 pm
#171
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Location: Ashland Oregon for the moment.
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Re: Landlords wants to be named on my rental insurance
Those with/without RI, and Personal experience from Said People & friends.
Some very useful links where provided to educate oneself on the subject of RI, the Pro's and Con's discussed from every angle imaginable....
Pray tell how you have come to this conclusion ?....
I do not mean to insult you, so I apologies in advance if it has, I'm just saying !
Nov 5th 2010, 4:59 pm
#172
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Joined: Aug 2009
Location: Houston, Tx
Posts: 2,280
Re: Moving to MI, Plenty of Questions...
"If a renter accidently breaks a cabinet, dishwasher or window, the landlord is on the hook for that too."
TOTAL, misinformation. If your my tenant or Landlord's renter, your going to get charged & its coming out of your deposit. This is not just true of USA, its true everywhere. Where have you been living, that Landlords, let you break stuff & get away scot free?
Frank R.
TOTAL, misinformation. If your my tenant or Landlord's renter, your going to get charged & its coming out of your deposit. This is not just true of USA, its true everywhere. Where have you been living, that Landlords, let you break stuff & get away scot free?
Frank R.
I rent out my property in the UK and I'm responsible for the heating, shower, cooker, washing machine etc... If any of these break, I'm responsible for them, unless there is clear misuse or damage caused by negligence of the tenant.
In the States, this is also true of the apartment I rent. The a/c unit was leaking so I got the landlord to fix it. No cost to me, the tenant.
Insurance gets tricky and may depend on the location (state/country), rental agreement and specific insurance. On my property in the UK which is furnished, I am only responsible for the items I have listed in my insurance policy. I am NOT liable for the tenants personal possesions, which they have been advised to take insurance out for. My rental agreement in the US, says the same. That I, as the tenant am responsible for the insurance of my belongings.
Last edited by Bink; Nov 5th 2010 at 5:00 pm. Reason: inability to spell/type!
Nov 5th 2010, 7:31 pm
#173
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Re: Moving to MI, Plenty of Questions...
Depends what you mean by accidently...
I rent out my property in the UK and I'm responsible for the heating, shower, cooker, washing machine etc... If any of these break, I'm responsible for them, unless there is clear misuse or damage caused by negligence of the tenant.
In the States, this is also true of the apartment I rent. The a/c unit was leaking so I got the landlord to fix it. No cost to me, the tenant.
Insurance gets tricky and may depend on the location (state/country), rental agreement and specific insurance. On my property in the UK which is furnished, I am only responsible for the items I have listed in my insurance policy. I am NOT liable for the tenants personal possesions, which they have been advised to take insurance out for. My rental agreement in the US, says the same. That I, as the tenant am responsible for the insurance of my belongings.
I rent out my property in the UK and I'm responsible for the heating, shower, cooker, washing machine etc... If any of these break, I'm responsible for them, unless there is clear misuse or damage caused by negligence of the tenant.
In the States, this is also true of the apartment I rent. The a/c unit was leaking so I got the landlord to fix it. No cost to me, the tenant.
Insurance gets tricky and may depend on the location (state/country), rental agreement and specific insurance. On my property in the UK which is furnished, I am only responsible for the items I have listed in my insurance policy. I am NOT liable for the tenants personal possesions, which they have been advised to take insurance out for. My rental agreement in the US, says the same. That I, as the tenant am responsible for the insurance of my belongings.
You are pulling my leg, trying to wind us up?
Accidently, would include you trip over your shoe lace, dropped the sledge hammer & broke the kitchen tile floor. Or would you suggest, "but you did not trip on purpose", that the Landlord should pay to fix it?
unless there is clear misuse or damage caused by negligence of the tenant.
And you think, that would not include, you having an accident? Welcome to America, no in-fact, welcome to the grownup world. Responsibility!!!!!!!!!!!!
Frank R.
Nov 5th 2010, 8:27 pm
#174
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Posts: 2,280
Re: Moving to MI, Plenty of Questions...
Depends what you mean by accidently...
You are pulling my leg, trying to wind us up?
Accidently, would include you trip over your shoe lace, dropped the sledge hammer & broke the kitchen tile floor. Or would you suggest, "but you did not trip on purpose", that the Landlord should pay to fix it?
unless there is clear misuse or damage caused by negligence of the tenant.
And you think, that would not include, you having an accident? Welcome to America, no in-fact, welcome to the grownup world. Responsibility!!!!!!!!!!!!
Frank R.
You are pulling my leg, trying to wind us up?
Accidently, would include you trip over your shoe lace, dropped the sledge hammer & broke the kitchen tile floor. Or would you suggest, "but you did not trip on purpose", that the Landlord should pay to fix it?
unless there is clear misuse or damage caused by negligence of the tenant.
And you think, that would not include, you having an accident? Welcome to America, no in-fact, welcome to the grownup world. Responsibility!!!!!!!!!!!!
Frank R.
My point was that the landlord is reponsible for normal wear and tear and for providing working appliances. Some would consider a dishwasher breaking as an 'accident' if it just stopped working even if this was due to a knife etc dropping down inside during a cycle. The landlord is liable for that IMO.
Continued heavy use could cause a washing machine/dishwasher etc to break prematurely. Is this the tennants fault or the landlords? That's the kind of accident I'm talking about. Broken tiles is why you take a security deposit.
I'm actually on both sides of this (landlord and tenant).
Nov 5th 2010, 9:29 pm
#175
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Re: Moving to MI, Plenty of Questions...
Wow, there's a lot of negativity in that post! Chill! :
My point was that the landlord is reponsible for normal wear and tear and for providing working appliances. Some would consider a dishwasher breaking as an 'accident' if it just stopped working even if this was due to a knife etc dropping down inside during a cycle. The landlord is liable for that IMO.
Continued heavy use could cause a washing machine/dishwasher etc to break prematurely. Is this the tennants fault or the landlords? That's the kind of accident I'm talking about. Broken tiles is why you take a security deposit.
I'm actually on both sides of this (landlord and tenant).
My point was that the landlord is reponsible for normal wear and tear and for providing working appliances. Some would consider a dishwasher breaking as an 'accident' if it just stopped working even if this was due to a knife etc dropping down inside during a cycle. The landlord is liable for that IMO.
Continued heavy use could cause a washing machine/dishwasher etc to break prematurely. Is this the tennants fault or the landlords? That's the kind of accident I'm talking about. Broken tiles is why you take a security deposit.
I'm actually on both sides of this (landlord and tenant).
That would obviously be "Wear & Tear", not an accident.
Frank R.
Nov 6th 2010, 12:06 am
#176
Banned
Joined: Oct 2010
Posts: 333
Re: Landlords wants to be named on my rental insurance
After re reading the last few pages of this thread in bed last night I got the distinct impression that many of you were duped into buying Renters Insurance and are now desperately clinging to the idea that it was somehow a good move..It's wasn't...... My wife had surgery this morning so while I was in the waiting room for a few hours I thought I'd whip out my notebook and do a little research on this matter. I found some very interesting facts. Fact #1- Only 36% of renters in America buy renters insurance, meaning that a full 70% don't. 70% of Americans can't be wrong, and heres a little something else I found in my research:
The insurance industry will happily sell you insurance on small unlikely risks. They have underwriters whose job is make sure that they come out ahead each time a customer buys one of the minor policies. Here's the top 4 reasons it's stupid to buy Renters insurance
1. No Guests
If you’re the type of person that doesn’t invite people over, then there’s no need to worry about liability coverage for accidents with guests. Liability protection is intended to protect renters who have guests over, in the event that those guests suffer bodily injury or property damage while visiting. However, you may not want guests over at all, and having renters insurance “just in case” is a waste of money, if you’re considering it for liability protection.
2. Low Value on Personal Items
Renter’s insurance is a waste of money if the total value to replace your personal items is low. Some renters underestimate what it would cost them to replace everything they own. An average apartment needs $10,000 worth of coverage. However, if your apartment living situation is temporary or if you’re just starting out, and the value of your belongings is less than $2,000, you may not need renters insurance. One could argue that premiums less than $15 a month and a $100 deductible is not a waste, even for belongings that total $2,000. However, if you don’t care to replace those items, then it is a waste of money, and that monthly renters insurance premium could be used to pay other bills.
3. No Chance You’ll Need it
There is a great chance that you’ll never have to file a claim under your renters insurance policy. For this reason, you might consider it a waste of money to make monthly payments on a policy you won’t use. It’s true that some renters pay premiums for 10, 20 or 30 years without filing a claim once. However, the fact that you may never need to file a claim shouldn’t be the only reason that stops you from obtaining a policy. There are many more
4. Difficult to Get Paid
Some renters insurance make it difficult for you when you file a claim, and getting the money you expect under your policy is not always the case. It’s a waste of money to buy a policy from an insurance company that has a pattern of not paying out money, or delaying claims and payments for unreasonable amounts of time. If you do buy renters insurance, be sure to research the company and only go with companies that have a solid reputation.
Don’t waste your money on renters insurance policies.
Heres some eyewitness testimonials from real life renters from the internets
http://www2.ljworld.com/onthestreet/.../15/insurance/
lunacydetector (anonymous) says…
it is a waste of money. the odds are you'll never need to use it and the way insurance companies make it difficult when it is time to pay out on anything, why give them easy money for their coffers? when i rented i NEVER had to use it, ever, and i don't know anyone who ever used it either. i only fell for the renters insurance scam for a couple of years. after forking out $600 over a couple of years, i realized i could've used that money for some very nice furniture instead.
Glory Hole (anonymous) says...
Insurance companies prey on the ignorant, the young, the elderly and newcomers to the country. Don't fall into this insidious insurance company trap.
The insurance industry will happily sell you insurance on small unlikely risks. They have underwriters whose job is make sure that they come out ahead each time a customer buys one of the minor policies. Here's the top 4 reasons it's stupid to buy Renters insurance
1. No Guests
If you’re the type of person that doesn’t invite people over, then there’s no need to worry about liability coverage for accidents with guests. Liability protection is intended to protect renters who have guests over, in the event that those guests suffer bodily injury or property damage while visiting. However, you may not want guests over at all, and having renters insurance “just in case” is a waste of money, if you’re considering it for liability protection.
2. Low Value on Personal Items
Renter’s insurance is a waste of money if the total value to replace your personal items is low. Some renters underestimate what it would cost them to replace everything they own. An average apartment needs $10,000 worth of coverage. However, if your apartment living situation is temporary or if you’re just starting out, and the value of your belongings is less than $2,000, you may not need renters insurance. One could argue that premiums less than $15 a month and a $100 deductible is not a waste, even for belongings that total $2,000. However, if you don’t care to replace those items, then it is a waste of money, and that monthly renters insurance premium could be used to pay other bills.
3. No Chance You’ll Need it
There is a great chance that you’ll never have to file a claim under your renters insurance policy. For this reason, you might consider it a waste of money to make monthly payments on a policy you won’t use. It’s true that some renters pay premiums for 10, 20 or 30 years without filing a claim once. However, the fact that you may never need to file a claim shouldn’t be the only reason that stops you from obtaining a policy. There are many more
4. Difficult to Get Paid
Some renters insurance make it difficult for you when you file a claim, and getting the money you expect under your policy is not always the case. It’s a waste of money to buy a policy from an insurance company that has a pattern of not paying out money, or delaying claims and payments for unreasonable amounts of time. If you do buy renters insurance, be sure to research the company and only go with companies that have a solid reputation.
Don’t waste your money on renters insurance policies.
Heres some eyewitness testimonials from real life renters from the internets
http://www2.ljworld.com/onthestreet/.../15/insurance/
lunacydetector (anonymous) says…
it is a waste of money. the odds are you'll never need to use it and the way insurance companies make it difficult when it is time to pay out on anything, why give them easy money for their coffers? when i rented i NEVER had to use it, ever, and i don't know anyone who ever used it either. i only fell for the renters insurance scam for a couple of years. after forking out $600 over a couple of years, i realized i could've used that money for some very nice furniture instead.
Glory Hole (anonymous) says...
Insurance companies prey on the ignorant, the young, the elderly and newcomers to the country. Don't fall into this insidious insurance company trap.
Last edited by drop step; Nov 6th 2010 at 12:14 am.
Nov 6th 2010, 12:23 am
#177
BE Forum Addict
Joined: Dec 2002
Location: Ft Lauderdale, FL
Posts: 4,792
Re: Landlords wants to be named on my rental insurance
After re reading the last few pages of this thread in bed last night I got the distinct impression that many of you were duped into buying Renters Insurance and are now desperately clinging to the idea that it was somehow a good move..It's wasn't...... My wife had surgery this morning so while I was in the waiting room for a few hours I thought I'd whip out my notebook and do a little research on this matter. I found some very interesting facts. Fact #1- Only 36% of renters in America buy renters insurance, meaning that a full 70% don't. 70% of Americans can't be wrong, and heres a little something else I found in my research:
The insurance industry will happily sell you insurance on small unlikely risks. They have underwriters whose job is make sure that they come out ahead each time a customer buys one of the minor policies. Here's the top 4 reasons it's stupid to buy Renters insurance
1. No Guests
If you’re the type of person that doesn’t invite people over, then there’s no need to worry about liability coverage for accidents with guests. Liability protection is intended to protect renters who have guests over, in the event that those guests suffer bodily injury or property damage while visiting. However, you may not want guests over at all, and having renters insurance “just in case” is a waste of money, if you’re considering it for liability protection.
2. Low Value on Personal Items
Renter’s insurance is a waste of money if the total value to replace your personal items is low. Some renters underestimate what it would cost them to replace everything they own. An average apartment needs $10,000 worth of coverage. However, if your apartment living situation is temporary or if you’re just starting out, and the value of your belongings is less than $2,000, you may not need renters insurance. One could argue that premiums less than $15 a month and a $100 deductible is not a waste, even for belongings that total $2,000. However, if you don’t care to replace those items, then it is a waste of money, and that monthly renters insurance premium could be used to pay other bills.
3. No Chance You’ll Need it
There is a great chance that you’ll never have to file a claim under your renters insurance policy. For this reason, you might consider it a waste of money to make monthly payments on a policy you won’t use. It’s true that some renters pay premiums for 10, 20 or 30 years without filing a claim once. However, the fact that you may never need to file a claim shouldn’t be the only reason that stops you from obtaining a policy. There are many more
4. Difficult to Get Paid
Some renters insurance make it difficult for you when you file a claim, and getting the money you expect under your policy is not always the case. It’s a waste of money to buy a policy from an insurance company that has a pattern of not paying out money, or delaying claims and payments for unreasonable amounts of time. If you do buy renters insurance, be sure to research the company and only go with companies that have a solid reputation.
Don’t waste your money on renters insurance policies.
Heres some eyewitness testimonials from real life renters from the internets
http://www2.ljworld.com/onthestreet/.../15/insurance/
lunacydetector (anonymous) says…
it is a waste of money. the odds are you'll never need to use it and the way insurance companies make it difficult when it is time to pay out on anything, why give them easy money for their coffers? when i rented i NEVER had to use it, ever, and i don't know anyone who ever used it either. i only fell for the renters insurance scam for a couple of years. after forking out $600 over a couple of years, i realized i could've used that money for some very nice furniture instead.
Glory Hole (anonymous) says...
Insurance companies prey on the ignorant, the young, the elderly and newcomers to the country. Don't fall into this insidious insurance company trap.
The insurance industry will happily sell you insurance on small unlikely risks. They have underwriters whose job is make sure that they come out ahead each time a customer buys one of the minor policies. Here's the top 4 reasons it's stupid to buy Renters insurance
1. No Guests
If you’re the type of person that doesn’t invite people over, then there’s no need to worry about liability coverage for accidents with guests. Liability protection is intended to protect renters who have guests over, in the event that those guests suffer bodily injury or property damage while visiting. However, you may not want guests over at all, and having renters insurance “just in case” is a waste of money, if you’re considering it for liability protection.
2. Low Value on Personal Items
Renter’s insurance is a waste of money if the total value to replace your personal items is low. Some renters underestimate what it would cost them to replace everything they own. An average apartment needs $10,000 worth of coverage. However, if your apartment living situation is temporary or if you’re just starting out, and the value of your belongings is less than $2,000, you may not need renters insurance. One could argue that premiums less than $15 a month and a $100 deductible is not a waste, even for belongings that total $2,000. However, if you don’t care to replace those items, then it is a waste of money, and that monthly renters insurance premium could be used to pay other bills.
3. No Chance You’ll Need it
There is a great chance that you’ll never have to file a claim under your renters insurance policy. For this reason, you might consider it a waste of money to make monthly payments on a policy you won’t use. It’s true that some renters pay premiums for 10, 20 or 30 years without filing a claim once. However, the fact that you may never need to file a claim shouldn’t be the only reason that stops you from obtaining a policy. There are many more
4. Difficult to Get Paid
Some renters insurance make it difficult for you when you file a claim, and getting the money you expect under your policy is not always the case. It’s a waste of money to buy a policy from an insurance company that has a pattern of not paying out money, or delaying claims and payments for unreasonable amounts of time. If you do buy renters insurance, be sure to research the company and only go with companies that have a solid reputation.
Don’t waste your money on renters insurance policies.
Heres some eyewitness testimonials from real life renters from the internets
http://www2.ljworld.com/onthestreet/.../15/insurance/
lunacydetector (anonymous) says…
it is a waste of money. the odds are you'll never need to use it and the way insurance companies make it difficult when it is time to pay out on anything, why give them easy money for their coffers? when i rented i NEVER had to use it, ever, and i don't know anyone who ever used it either. i only fell for the renters insurance scam for a couple of years. after forking out $600 over a couple of years, i realized i could've used that money for some very nice furniture instead.
Glory Hole (anonymous) says...
Insurance companies prey on the ignorant, the young, the elderly and newcomers to the country. Don't fall into this insidious insurance company trap.
NEW Replacement cost, to the amount you work out, would cost to replace. Sure if you have a back pack & Futon, don't bother.
Frank R.
Ps, you can take a chance any anything. You can buy $300 insurance on your $100k Mercedes, I would not take a chance. You can live in flood zone & take chance without it, I would not.
You can buy a computer (I buy Dells, always get 3 year warranty), you can take a chance, I would not.
ETC
ETC
ETC
ETC
Nov 6th 2010, 12:25 am
#178
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Joined: Feb 2000
Location: Florida
Posts: 25,928
Re: Landlords wants to be named on my rental insurance
No it's not a waste of money, my friends lost ALL of their possessions because they didn't have Renters Insurance. Those in their apartment block who DID have Renters Insurance where able to replace their material possessions thanks to the insurance. I know this because I knew the people involved. The cost is minimal compared to what you would loose if you are the victim of a fire such as my friends were. To state otherwise is, IMO, reckless. Anyone can come up with a bunch of facts and figures to back-up their case, whilst ignoring all the other facts and figures that would state otherwise. You are simply trying to twist a small number of stats to fit your argument.
Nov 6th 2010, 12:30 am
#180
Banned
Joined: Oct 2010
Posts: 333
Re: Landlords wants to be named on my rental insurance
No it's not a waste of money, my friends lost ALL of their possessions because they didn't have Renters Insurance. Those in their apartment block who DID have Renters Insurance where able to replace their material possessions thanks to the insurance. I know this because I knew the people involved. The cost is minimal compared to what you would loose if you are the victim of a fire such as my friends were. To state otherwise is, IMO, reckless. Anyone can come up with a bunch of facts and figures to back-up their case, whilst ignoring all the other facts and figures that would state otherwise. You are simply trying to twist a small number of stats to fit your argument.