I signed a lease with a clause stating renters insurance is deemed as necessary by the renter. Now they are requiring every leaser obtain insurance.
Free Insurance Quote Comparison
Secured with SHA-256 Encryption
UPDATED: Jan 19, 2012
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
Insurance Question from Flagstaff, AZ
Asked on 01/19/2012
I signed a lease with a clause stating renters insurance is deemed as necessary by the renter. Now they are requiring every leaser obtain insurance. I have been renting an apartment for almost five months. There is a clause in the lease that I signed stating that renter's insurance is obtained as deemed by the renter as necessary. A few pages later there is a small paragraph stating the management reserves the right to change anything in the lease at any time as long as there is written notice. Now they have given me written notice that they require renters insurance and if we don't obtain it we are in violation of the lease. I feel that this is just a way to cover themselves and it seems dishonest. Is this really legal?
Answer given on January 19, 2012
Renters insurance is a very valuable policy for you the renter as well as the landlord. If your negligence causes a loss, such as a fire, your insurance includes liability insurance that can help reimburse the landlord, and other renters, for damages that ensue.Renters insurance also protects you from loss if there is a disaster, such as a fire. It will help pay to reimburse you for the loss of personal property. There have been many fires in apartments throughout the country and many of the victims had no insurance.More and more landlords are including the requirement of renters insurance in their leases. The lease you signed indicated they were concerned about this sneed and the clause saying they could change the lease seems to be valid.Renters insurance is not expensive. Many policies can be optained for $125-$200 a year. This is only about $10-$15 a month. I recommend that you go along with the lease change. It will benefit you as well as the landlord.
IMPORTANT NOTICE: These answers are for general information purposes only and are provided by the person answering and FreeAdvice.com AS IS. It has not necessarily been reviewed by the management staff of FreeAdvice.com nor is it binding any insurance agent, broker, or other insurance professional or any attorney or insurance company. Insurance laws, regulations and practices vary from state to state and insurance policies and practices differ from company to company, by type of policy, by state and locality and by type of insurance. Tiny variations in the facts, policy language or a detail not set forth in a question often can change the outcome or a professional's conclusion. Although FreeAdvice.com has confirmed that the answer(s) was/were provided for the account of an experienced insurance professional, that professional may not be licensed in the state referred to in the question, and may not be experienced or up to date in the subject area. Unlike the answers provided here, upon which you should NOT rely, for personal advice you can rely upon we suggest you consult a licensed insurance professional in your area or retain a licensed attorney listed on AttorneyPages.com to represent you.