What is personal liability insurance for renters?
Liability is a type of insurance coverage that’s included in almost all types of policies.
This includes tenant (also known as renters) insurance.
Personal liability insurance for renters covers tenants in the event that they’re sued for damages to the property owner’s building, or if someone is accidentally injured while in their home.
We recommend that renters purchase $1M – $2M in tenants legal liability insurance.
Generally speaking, the price difference between a $1M and a $2M policy is around $20 – $30 extra per year.
So, if you need the additional coverage, or your building owner requires, it won’t break the bank.
Still have questions?
Visit the KBD blog for an in-depth guide on third party liability insurance, and learn more about tenant insurance requirements here.
Or, give our tenant insurance brokers a call.
We’ll be happy to help. 😊
Check KBD out on social media. We’re up to some cool stuff.