Renter's Insurance for Tenant

My tenant has requested a washer and dryer be placed in their unit.  As per the advice from the forum, I requested they obtain renter’s insurance, but they informed me that it would only cover damage to their personal belongings, and not to the home, i.e. water damage to the floors.  I, of course, have home owner’s insurance, but would not want to have to file claim and cause my premium to rise if something was to go wrong in the tenant’s apartment with the use of the w/d.  Is there additional coverage a renter can purchase to cover damage to the home.  I was reading something about renter’s liability insurance, which could cover damage’s causes to another’s home.  Any insight on this?  Thanks!

sobrooklyn

in Landlord 13 years and 2 months ago

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daveinbedstuy | 13 years and 2 months ago

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This problem can be 100% eliminated by the use of the proper shutoff safety valve that will cut the water supply if the washer is not in use.

wuyueyue90 | 13 years and 2 months ago

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Rick | 13 years and 2 months ago

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Is it worth the trouble and risk? As a landlord and a contractor I wouldn’t do it. I have seen many damaged floors and ceilings from washer backing up. Often when the tenant has already left for work! If you can provide a set up in your basement, that would be the way to go. I provide that for my tenants in an unfinished basement. If the washer fails it would be no big deal.

slopegirl | 13 years and 2 months ago

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you should NOT put in a washer if you don’t want to deal with maintenance.Your tenants are free to find a rental that meet their specs…There are always other tenants and these days, rents are UP.

needmtg | 13 years and 2 months ago

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You’re the owner, it’s your property, your washing machine, of course you should shoulder the insurance. No different than if the toilet leaked or the refrigerator burst into flames…would you expect the tenant to pay for damage? Adjust the rent as others have said.

bowl-of-dicks | 13 years and 2 months ago

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Is hot water included in their rent?

wyckoff | 13 years and 2 months ago

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Not a small ask, considering, as slopegirl said, you need to have the washer sitting on a drainage pan which is plumbed into your stack, and create proper dryer exhaust vent, but it could work to your advantage I would get them to agree to higher rent to cover the plumbing/appliances and incremental hot water usage over the next year, and the increased rent acts as self insurance after that.

slopegirl | 13 years and 2 months ago

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you can self insure: ie, make sure there is a lead pan to capture potential leak from machine and charge enough in rent increase to cover any posible trouble down the line assuming you will not submit a claim.

stevecym | 13 years and 2 months ago

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 I had a renter’s policy about 15 years ago that included liability.  It was not much liability – I think about 20K.  They should shop around. Steve