Renting house owner have no insurance?
Can a landlord legally rent a house minus carrying insurance on the house or property?
Answers:
Renters insurance DOES cover personal injury AND liability. So if anyone is visit you and falls down the stairs, YOU need to be covered. NOT the landlord.
There's no requirement that a property be insured whether it's rented or not. The contract next to the renter however, obligates them to maintain the property to livable standards and to fix any issues that affect your rental space. The property contained contained by your apartment (your prosessions), is your obligation to insure. Your landlord have no obligation to insure or cover the value your personal possessions.
If someone owns a house outright and doesn't mind losing it in the lawsuit (and has no other existing assets to protect) then I suppose there is no requirement to have homeowner's insurance on it.
Any sane person would have insurance on it because they would inevitability the financial protection if it burned down or someone got hurt on it. Even if they didn't need protection on the property, they possible have other assets that they would prefer not to lose in a lawsuit.
honest luck!
ps - I couldn't rent from a person like that. If they didn't hold enough financial sense to protect themselves, they don't know what they are doing or don't care what they are doing (which might even be worse).
I don't expect they are required that's why most ask you for a security deposit..
Related Questions:
Answers:
Renters insurance DOES cover personal injury AND liability. So if anyone is visit you and falls down the stairs, YOU need to be covered. NOT the landlord.
There's no requirement that a property be insured whether it's rented or not. The contract next to the renter however, obligates them to maintain the property to livable standards and to fix any issues that affect your rental space. The property contained contained by your apartment (your prosessions), is your obligation to insure. Your landlord have no obligation to insure or cover the value your personal possessions.
If someone owns a house outright and doesn't mind losing it in the lawsuit (and has no other existing assets to protect) then I suppose there is no requirement to have homeowner's insurance on it.
Any sane person would have insurance on it because they would inevitability the financial protection if it burned down or someone got hurt on it. Even if they didn't need protection on the property, they possible have other assets that they would prefer not to lose in a lawsuit.
honest luck!
ps - I couldn't rent from a person like that. If they didn't hold enough financial sense to protect themselves, they don't know what they are doing or don't care what they are doing (which might even be worse).
I don't expect they are required that's why most ask you for a security deposit..
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