Rental Business – Insurance Question: insurance company wanted my tenants to have insurance too. reasonable?
Hi, my insurance company asked if my tenants have insurance when I started the policy with them 2 years ago. Is it really enforceable? can my insurance company refuse MY claim if THE TENANTS have no insurance in the future!? I mean my tenants can cancel their insurance any time they want without me even knowing about it. Also, my understanding is that my tenants can legally choose not to insure their property as I “inherited” them when I purchase this duplex so I can not suddenly change their condition. Bottom line, is this an issue or just a minor thing the insurance company will not really investigate if there is a claim in the future? THANKS.