Tenants need to be covered if there is an accident, theft or disaster at your property.
When renting a property to a tenant, its important to make sure they are covered against legal liability and that they have considered the need for Contents Insurance.
Tenants are responsible for the harm they cause to any part of their building and to others who live or visit there.
For example, if a faulty toaster oven starts a fire that causes damage not only to the contents of your own apartment but also to other tenants’ contents and any part of the building, you can be held responsible for the cost of that damage.
Tenants insurance covers that cost.
Similarly, if someone slips and falls in your apartment, you could be held financially responsible for the cost of the injured person’s
pain, suffering and medical bills.
TenantsPlus provides protection for contents against theft, or damage by fire, explosion and storm. In addition, the legal liability for incidents in which someone injures themselves on the property or suffers another loss (where you are found liable) is covered up to $20,000,000.
With premiums starting from fifty cents per day ($150 per annum ), it makes sense for your tenants to be insured through TenantsPlus.