Is failure to have renters insurance in Tucson a lease violation? If so, how serious is it? Does that apply everywhere? Why does it matter?
Well, the first thing to ask is, what’s written in your lease? That, of course, will be what controls the definition of a lease violation. Your lease is not the same as everyone else’s. Your lease may well vary significantly from those held by other people who live in your community, especially if you’ve been there a number of years. Terms, conditions, and requirements may vary between different types of apartments, and may change over time as new leases are signed.
But broadly and generally speaking, if your community is managed by a competent multi-family property manager, your lease has a clause requiring Tucson Renters Insurance. The phrasing may vary, the penalties may vary, but the general gist is the same. So if you don’t have renters insurance, is that a lease violation? Chances are, yes. Certainly yes, if the requirement is written into the lease.
The next question is, do you care?
What might happen if you violate your lease by not having renters insurance in Tucson?
To start with, your failure to maintain renters insurance per the terms of your lease is, at its core, a breach of the contract. If no specific remedies are provided in the clause requiring renters insurance – if it just says “you must have a policy with $100,000 liability” – then the remedies that go with the lease would control. That means that your tenancy could be terminated and you could be responsible for any monies owed under the lease in that event. Having to move is a pretty steep penalty to risk in return for just not wanting to spend fifteen bucks a month or so, most people would agree.
Additionally, if you cause a loss such as a fire, you’re personally responsible for the entirety of the damages arising from that loss. Did the neighbor have to go to the hospital because they were overcome by the smoke? His hospital bill is your problem. Did someone lose property? Those costs are your problem. Does the apartment have to be gutted and rebuilt? Is the building a total loss? Those costs, too, are solely your problem!
It’s not about the lease violation if you don’t have renters insurance. It’s about the fact that if “life happens,” you’re on the hook for the costs. Instead, for a few dollars a month, you could transfer the risk easily to a company that can take care of you when there’s a loss. That’s a small price to pay for peace of mind. Sure, the building owner has insurance and your neighbor has health insurance. But do you know what happens when an insurance company pays a claim that’s someone else’s fault?
On paying the claim, their policyholder transfers their right of recovery to the company. The company then has the right to pursue you to the ends of the earth to recover the money they paid out. Do you want a commercial insurer and a health insurer coming after your assets? Most people don’t.
Oh, and don’t forget that your landlord probably wrote something into your lease that says it will cost you, say, $25 a month if you don’t have renters insurance. That means it’s generally far less expensive to buy the coverage than not to buy it. To find out more, or to get covered, just call (800)892-4308 or click to get covered - whether you need Tucson, AZ renters insurance quotes online or coverage anywhere else!
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