Obligation to Purchase Insurance
Do we have an obligation to hire a multi-risk home and renters insurance? This is one of the most common questions that may arise when we first rented a house. Unfortunately, it also can be a source of disputes between landlords and tenants, when sometimes the owner has tried to collect insurance on the tenant.
First, it should be clear that the tenant is simply a third party and, therefore, do NOT have to answer or secured by a dwelling that has no property. They are the real owners and stakeholders to be included as policyholders if they are interested in securing your home against fire, theft or any other type of flaw, which are the reasons that usually make the houses. They, the owners are the beneficiaries of insurance and therefore who should pay the annual fee.
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