California E&S Insurance

Thank you. My lease clearly states what renters’ insurance I require. I appreciate the link. Some good verbiage there. Because you can’t evict in CA if a tenant lapses in their renters’ insurance coverage during the course of their tenancy, I’ve stipulated in the lease that the property manager must be listed as “additional party of interest” on their renters’ insurance policy. If the tenant lapses in coverage or cancels their policy during the course of their lease, the PM will be notified. The lease states that if this happens, the PM will immediately purchase renters’ insurance on tenants’ behalf. The policy the PM purchases will only include the minimum required coverage — the $300K liability coverage for landlord plus back up of sewer/drain — and will not cover the tenants’ possessions. The monthly charge/premium will be billed back to the tenant as will a $15 per month administrative fee. This way, if the tenant cancels or lapses, the PM will know about it. The PM is obliged to purchase a policy for the tenant and bill the tenant for it plus the $15 “pain in the ass” admin fee. Hopefully I can reduce the chances of my tenant(s) being uninsured.

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