In our last article, “Do You Need Landlord Insurance?” we discussed the importance and necessity of having this type of coverage for your property.
Landlord insurance, also called tenant insurance, covers a property that you don’t live in full time and is like taking a homeowners policy out on the home you currently reside in.
You may be wondering, if you have tenant insurance do your renters need to purchase and hold renters insurance?
The simple answer is yes. You should always require your tenants to take our renters insurance to safeguard their belongings and cover them in case of damage, accidents or natural disasters.
Let’s discuss the renters insurance vs. tenant insurance in California and why having both is in your favor.
Tenant Insurance
Even though we went into detail about landlord insurance in our last article, we will summarize the main points or what it covers and how it can help you save money and protect your property and belongings, as well as help you take care of any medical or legal fees that may occur.
If your tenant does damage, a natural disaster occurs or a fire happens, are you responsible for paying for the damage out of pocket? With tenant insurance, you will have proper coverage to handle these issues and recoup the lost income due to not having any renters!
If you furnish your rental property, you’ll have peace of mind knowing that you can replace your lost belongings with the coverage you have from your policy.
You’ll also be covered for any legal issues or medical bills that may incur if a tenant is injured on your property due to a maintenance issue.
Tenant insurance is also paid for by you, the homeowner, compared to renters insurance paid by the tenant.

Renters Insurance
As stated above, renters insurance is paid by the tenant who rents your property. As the landlord, you should require your tenants to take our renters insurance to protect them and you for any incidents that occur at the rented property.
If a renter accidentally damages an appliance, the structure of the home, or a piece of property, the renters insurance policy will help them cover the costs of the damages (which also means YOU don’t have to pay to fix it).
Their policy will also help to replace and repair any electronics, furniture, appliances, and clothing that may be damaged due to natural disasters, fires, water damage, or any other incident beyond their control.
If the damage of the property is severe enough that the residence becomes uninhabitable, they will have coverage to help them with any living expenses like hotel stays.
Want To Know More About Renters Insurance Vs. Tenant Insurance In California? See Insurance By Castle
Here at Insurance By Castle we work exclusively with California area renters and landlords to adequately protect their property, belongings and assets.
If you or your tenant need help to decide what coverage you need to ensure you are covered in case of any incidents, accidents, or natural disasters.
Call today to get a quote and allow our experts to give you peace of mind that you have the right policy!