Renters Insurance

Who is responsible for carrying sinkhole insurance? The renters or the landlord?

If your parents are renters, they are not responsible for the property — just their own liability and possessions — so it's not required to have sinkhole insurance since that's property-related. The landlord has to maintain safe living conditions for their property.

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Renters Insurance

Can I sue if a ceiling collapsed on me after repairs?

I'm sorry to hear that happened. I hope your brother is okay.

Homeowners Insurance

What is a landlord policy?

A landlord policy usually includes the same type of protection as your usual house insurance, such as cover for buildings and contents in the event of a range of circumstances.   As a landlord, you can buy additional coverage, such as rent guarantee insurance, natural disaster insurance, employer liability insurance and landlord contents insurance to cover your personal property items such as furnishings or carpet in the rental property. HO5 insurance policy is an open perils policy. This means the policy does not list the perils for which your home and personal property are covered; instead, it lists the perils your home and personal property does not cover.

Homeowners Insurance

How much are landlord insurance policies?

Landlord policies can be actually be more expensive due to the risk of having tenants in the house. I would also make sure that any tenants you take on have their own renters plan that includes liability coverage.

Coverage & Claims
Homeowners Insurance

Do I need a landlord policy or homeowner?

A homeowners policy doesn't apply for rented out residences as it's intended for those who live "full-time" there. If you're renting your residence out, what you should look for is a landlord policy.

Renters Insurance

Is there such thing as 'too much renters insurance'?

If maintaining a specific limit of liability on a renters insurance policy is required by your property manager as part of your lease then there probably isn't any way around it. That being said, the liability coverage you select on your renters insurance coverage is intended to cover you for damage or injury that you may cause.
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