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A tenant's losses are not covered by the landlord's insurance!

      The landlord is not normally able to insure a tenant's personal property through their rental property insurance policy. There are a number of reasons why, including the fact that neither the landlord, nor the insurer, has any knowledge or control of the extent or value of the contents that may be brought into the property. 

You MUST have "Renters Insurance" to cover your loss.

Most tenants do not have renter's insurance to protect them, even though the insurance may actually cost very little.

The tenant's renter insurance policy insures against those losses to their personal property occurring as a result of fire, vandalism and theft, up to the amount stated on the face of the policy;  $20,000 or even $120,000.

Tenant's policies are similar to homeowner's contents and liability insurance. They usually have deductibles of $250 or $500. That means if a tenant has a loss, the insurance company will pay for the amount of that loss over and above the deductible amount.

But in addition to fire and theft, most renter's policies include personal liability coverage of $100,000, while a homeowner usually carries $300,000 for injuries or damage caused by the insured. For example, if a tenant's water bed leaks, or their kid breaks a neighbor's antique stained-glass window, or a guest is injured on the rental property due to the tenant's negligence, the insurance should cover the loss and any necessary legal defense.

Tenant's insurance is a package of several types designed to cover more than one risk. The cost of each insurance company's package will vary and the coverage may be slightly different. There may also be exclusions, the dollar amounts specified and the deductible will also change from one company to the next. Tenants who live in a flood, mud or earthquake area will need to pay for extra coverage.

Also see: Landlords are never through buying insurance.