|
3 Reasons a Landlord should require Tenants to Have Renter's Insurance |
 |
 |
 |
|
3 Reasons a Landlord Requires Tenants to Have Renters Insurance
from: www.ohmyapt.com - staff writer
Landlords are in business to make a profit and protect their assets, and requiring tenants to have renters insurance helps them achieve that goal. The concern is that if you’re not protected with a policy, they may be financially responsible in part if someone brings legal action against you. It’s not illegal, but it can prevent you from renting an apartment if you choose for whatever reason not to buy a policy. There are a number of reasons why a landlord would require you to buy renter’s insurance. Let’s look at 3:
1. Legal Protection
The landlord’s primary concern is that there will be more than enough money to protect you and them in a lawsuit arising from accidents or injuries of others who visit you in your apartment. For example, if you invite a guest who slips and falls in your apartment and breaks a bone, you could be sued for liability. If you don’t have money to defend yourself in a lawsuit and pay a judgment awarded against you, your guest may include your landlord in the lawsuit to recover damages. They might do that anyway, but your landlord is protected if you own a renter’s insurance policy. This is the main reason why a landlord requires tenants to have renter’s insurance.
2. Avoid Additional Claims on Property Insurance
Another reason why landlords require renter’s insurance is to avoid filing claims on their own insurance. Each claim they file will result in higher premium payments for them, and there may come a point where their insurance company will decide to stop insuring them. If you live in an apartment building with many tenants, there’s a greater chance of this happening. Each tenant has the potential to cause the landlord to file a claim to pay for liability, medical payments or other damages. A landlord views this as a burden, and wants each tenant to take that on themselves.
3. Protection for Other Tenants
It’s also to ensure that the other tenants are protected. If you live in a duplex, or a building with multiple units, each tenant is potentially at risk due to negligence of other tenants. For example, if one tenant floods their apartment by mistake, such as by leaving the tub on while at work without realizing it, it can destroy the belongings of tenants on the bottom floor or even tenants in the adjacent apartment. Those tenants will have to pay to replace any damaged items, such as electronics, and they may not have enough money to pursue you in court. However, if the landlord requires everyone to buy renter’s insurance, then all tenants can sleep at night knowing they can file a claim if necessary.
A landlord who requires renter’s insurance should provide property security for the apartment, such as dead bolts, security cameras if appropriate and the prompt removal of tenants engaging in illegal activity. They should also be held accountable for maintaining the premises |
|
|
Four Types of Insurance Businesses NEED |
|
|
|
|
by: Carmen Nobel
BOSTON (TheStreet) -- In starting and growing a business, an entrepreneur must strike a balance between cutting costs and covering the company's butt.
Workers compensation insurance
Unlike general liability insurance, which is concerned with the possibility of injured clients, workers compensation insurance pays for medical and disability expenses for employees who are injured on the job, generally on a no-fault basis.
Anyone waffling on the decision to invest in workers comp should know that it's legally required for businesses in every state except Texas.
Requirements vary by state, but, in general, "if you have an employee, you are probably required to have workers compensation insurance," says Douglas Dirks, chief executive officer of Employers Holdings(EIG), which specializes in workers comp insurance for small businesses. (Exceptions often include housecleaners and unpaid volunteers.) Small businesses should avoid hiring other businesses unless a valid certificate proving workers compensation insurance can be shown, Dirks says
To read the full article:
http://www.thestreet.com/story/10698059/1/four-types-of-insurance-businesses-need.html?cm_ven=GOOGLEN
|
|
Winter approaching be prepared |
|
|
|
|
It is November 3 and the temperature in San Francisco is projected to be 75 degrees. It is on days like today that we can easily forget that it is autumn and soon will be winter. However winter is coming and with it will come increased insurance claims. There will be roof leaks and automobile accidents from the rain that we all hope will come. Some experts have even predicted that this will be a year of heavy rain.
It is great to have insurance coverage, but it is even better to avoid having an insurance claim. Now is the time to take some simple preventive measures to keep yourself and your family safe. Here are a few ideas:
- Clear out your roof gutters so that water drains properly.
- If you know of a leak, now is the time to patch it. Once the rain comes it is not possible to work on your roof until the weather clears. By then you will be standing in line with other people who have leaks.
- If your car has not been serviced in a while, have your breaks and tires checked to make sure they are safe.
- Change your windshield wipers
- Keep heaters and holiday lights away from flammable materials.
And finally, the pressure of the Thanksgiving holiday meal can sometimes bring on humorous disasters. Here is a story from the NPR.org website provided by Rachel LeMay:
"A few years back, I made Thanksgiving for my in-laws and few friends. I had a schedule posted on the frig of what time everything had to be done to stay on schedule for dinner. I made every effort to be cool, calm and collected; despite the fact that my townhouse kitchen was so small I had to take over my neighbor's kitchen as well. I even remembered to bring out a special glass baking dish that my mother-in-law had given me. My mother-in-law noticed. I scored brownie points.
I made oyster dressing in the dish. As I pulled the dressing out of the oven, it was perfect -- in every way. I set it on the stove top to cool while I started the gravy. I was in the home stretch of a flawless meal. It felt like a culinary coming of age. While still in my 20's, I was about to master Thanksgiving. Unfortunately, blinded by my impending success, I turned on the wrong burner -- the one under the dressing. After a minute or two I smelled something burning. In horror, I realized it was the dressing and as I reached to remove it from the heat, the glass baking dish exploded. Glass shards went everywhere. The gravy and carrots were taken out by shrapnel. The only saving grace was that the explosion occurred in my neighbor's kitchen so the turkey and side dishes at my house were saved.
After I cleaned up the mess, I returned to my kitchen to find that a friend had playfully added "4:52 p.m. Explode the dressing" to my schedule. I guess you can't plan for everything."
I hope your holiday meal is less explosive.
Jerry Becerra
|
|
|
|
|
