(Objective 2: Learn ways to protect their property and security deposit.)
Suggested Introduction: Who is responsible for damages or loss of belongings in a rental property? Most landlords carry property insurance that covers damages to the building. Tenants are responsible for insuring their belongings. Renter’s insurance protects the tenant’s property within the rental unit. Documentation of personal belongings is important when purchasing renter’s insurance. Using a camera or video, renters should document their belongings. The photos could be placed with the policy in the record-keeping system. A record of a tenant’s possessions will be invaluable in settling claims with the insurance company.
Some rental insurance policies will also cover a tenant’s property when it’s outside of the rental unit. Some policies offer liability insurance and cover fire or water damage. It is important for a tenant to check all insurance options within a policy that is being considered. For as much as it covers, renter’s insurance is relatively inexpensive.
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Distribute Handout 6: Renter’s Insurance. Review information provided in handout.
