Do we have to add the Landlord to our Renter's Insurance?

[mercyseat626]

The property is in Ohio.

We received a letter from our residential Landlord's insurance company today requesting that we carry a Proof of Liability of at least $100,000 and also stated that we must add our landlord's as an "Additional Interested Party".

Reviewing the terms of the lease, which is now month to month, we are only required to carry "Personal Property Insurance" and the Landlord is required to carry "Structural Insurance". I do not see, after reviewing the lease, any requirement for me to add them as an "Additional Interested Party".

We have had very good relationship with our landlords. They own three houses in the neighborhood and really are very nice people. In August we will have lived at the property four years and have always paid our rent on time. This being held true it seems to always be a funny balance with them. They are a bit essentric and the wife, primary contact person, seems to get very nervious and aggressive on certain issues. The letter seems to come out of the blue and seems very out of order to me! Why should my policy cover them? I thought there interest was the physical property and I paid renter's insurance for my property?

So what do you think, do we have to add them to the policy?

 

[mightymoose]

No. You landlord is responsible for his own insurance. Your renters insurance is primarily covering your property inside the residence. The landlord's insurance covers the residence itself.
Your landlord has no business being listed as an interested party on a policy that covers your property.

 

[irish223]

I agree with mightymoose, but I also think there might be some value to a liability policy. In the event that the renter caused damage to the dwelling, he could be responsible for repair. If the damage was extensive, it could be quite costly.

I'm assuming that the landlord or his insurance company could sue the renter for reimbursement, and I could be wrong. But it might be worth checking out.



ETA: I just read the "fire" thread, and apparently liability insurance is a good idea!

 

[Gail_in_Georgia]

As previously stated on another forum where you posted this question, it is not unusual that you will be asked to add the landlord as an "interested party". That way if you happen to cancel the renters insurance, they will be notified of such.

This would be there way of being informed should you cancel this insurance.

Gail