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INSURANCE FOR TENANTS -
In general, a resident's personal property is not covered by the landlord's insurance policy in cases of fire and theft. You also need liability protection to cover yourself against unwanted negligence suits. You can purchase a relatively inexpensive renters policy from almost any insurance company.
INSURANCE FOR OWNERS -
You need to convert your normal homeowners insurance policy to a Landlord's policy. Increasing the liability amount to $500,000 is recommended. To avoid unwanted legal fees in the event of a lawsuit, you must also add Realty Group Property Management as an additional insured. Remember, most normal homeowners policies cover only the first 30 days that a home sits vacant.
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