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If you’re a real estate investor, protecting your investments and assets as much as possible is crucial to prevent avoidable or preventable losses. For those investing in properties in Green, OH, you may be wondering if renters’ insurance is legally required. At Ken Boldt Insurance Agency II Inc., we assist our clients through the process of researching, reviewing, and selecting comprehensive insurance policies and plans that provide maximum protection, whether you’re an individual renter or an experienced commercial investor.
Is Renters’ Insurance Required for Property Investors in Ohio?
No, renters’ insurance policies are not legally required for property investors in Green, Ohio. However, it’s often beneficial for landlords or property owners to require tenants to purchase renters’ insurance if a unit or home is being leased or rented out.
Why Renters’ Insurance Should be Required by Landlords and Investors
If you are an investor or landlord, it’s advisable to require tenants to purchase renters’ insurance to:
- Protect against liability claims that may be filed against you.
- Protect your tenants’ belongings in case there is an issue with your building’s structure.
- Encourage your tenants to be responsible and vigilant when it comes to protecting their surroundings and their property.
Although it’s not legally required for investors in Green, OH, to purchase and maintain renters’ insurance, it’s always advisable to require your tenants to do so before leasing a home, apartment, or facility to them. The more prepared you are in advance, the less likely you are to encounter issues with filing claims or working with your insurance agency should an accident or event occur. To learn more about renters’ insurance requirements for tenants and property owners in Green, contact Ken Boldt Insurance Agency II Inc. today.
