Should the Renters be Insured?

Insurance policies are available to all. There are health insurance policies, education and accident insurance policies amongst many others. One question however that we need to ask is, should those people who rent buildings be insured? Are there documents that support this? Yes renters should be fully insured. Insuring a renter is a good method of attracting more renters. It is an insurance policy that is relatively new and it is almost none existence in some parts of the world. However, it feels nice just to think of the thought that one is insured just because they have rented a certain house, building or office. The landlords who have included insurance for their tenants have a higher chance of having tenants at all time all year round.

Which are the Insurances that can be taken for Renters?

Insurance against fire

A landlord can make a decision to insure their renters against fire. Fire is a major catastrophe that can occur to any building. Landlords who can include this package in their service delivery are those who rent their property to those businesses that are likely to catch on fire. This should be clearly stated on the contract so that the tenant is fully aware. A timber store and a petrol station store are examples of buildings that should have their tenants insured against fire. Also the neighboring buildings can be insured against fire. Just at the thought of such an insurance, a potential tenant is likely to have the mindset that the landlord has their health at heart. They may not move out of such a place quite easily unlike in that which does not have the fire insurance.

fire-protectionInsurance against theft and property damage

The renters insurance can also include insurance against theft and property damage. This will obviously attract more renters to the building with such kinds of insurances as part of the package. Everybody wants to have their property for as long as possible. When one is assured that they’ll be compensated when their property is stolen, then they are likely to be inclined towards such an advantage. One that does not have this insurance may need to work extra hard in order to attract long term clients. Property such as cars and household properties can also be insured against damage. When a landlord introduces such a package to their rental buildings they are likely to attract more long term clients.

Insurance against Natural Calamities

Landlords who have insured their buildings against natural calamities tend to attract more long term clients. The natural calamities include but not limited to earthquakes, floods, lightening and strong wind. These are factors that are beyond the human strength. A tenant rents such a building that despite the effects of any natural calamity that may occur, they are well protected and have a higher chance of compensation.