Although the majority of homeowners purchase insurance for their home, when it comes to renters, only 35 percent have renters insurance, according to a poll conducted for the Insurance Information Institute (I.I.I.).
That means that they (the tenants) have no insurance coverage if they are liable for the financial loss of someone else.
OK, think about this. You rent a home, duplex, etc. to someone. Your tenant has a party and one of the guests is hurt, gets an attorney, and seeks financial damages.
Well 65% of tenants have no insurance coverage for liability claims. So, who the attorney go after? Bingo, the property owner!!
We have many investors and individuals who have rental properties, and advise them every day on the insurance liability issues that are present.
Call us today for a no obligation consultation if you have rental properties.
Cecil Williams -