Writing insurance coverage for people who rent homes is nothing new, but companies that are ready to write property insurance programs in Florida for renters are primed to enter a blooming market. From retirees who don’t want to buy houses in their new home state to young people who can’t yet afford their own house, Florida is filled with people renting homes for the first time who need insurance.
Clients who are confused as to why their lease requires them to purchase renters insurance need to understand one important thing: their landlord’s insurance does not cover the tenant. If the building is burglarized and the renters’ possessions are stolen, the landlord’s policy will not cover that loss. Property insurance programs in Florida for renters are also necessary in case a guest is hurt while on the property and sues for damages; the landlord’s insurance program is not responsible for those claims. Additionally, clients need renters insurance in the event that the home becomes temporarily uninhabitable and they must relocate. This is not an uncommon occurrence in a state prone to hurricanes.
It may take a little explaining, but eventually clients will see that they need insurance when they rent a home. All a company has to do is be ready to write quality property insurance programs in Florida that cover all the particular risks of renting property.