Is a Renter’s Insurance Policy still Required if my Landlord Carries Insurance in Maryland?

Before you sign a lease to rent a Laurel, Maryland apartment, you better take a close look at all of the clauses. A landlord can require renter’s insurance as a condition before allowing you to move in as a tenant. He or she is not breaking any fair housing laws or Maryland statutes as long as he has the same policy for all tenants.

The landlord’s insurance does not cover your personal property like furniture or clothes that may be damaged, destroyed or stolen. Even though you may balk at the idea of being required to obtain renter’s insurance before you move in, it really is a good idea. Renter’s insurance only costs a few hundred dollars and it will cover all named perils like theft, fire, smoke and water damage. Should disaster strike, you could easily be out $5,000 or $10,000 if you have to buy all new things.

You do not have to buy a renter’s policy unless if your landlord does not specifically list it as a requirement of the lease. However, without this inexpensive coverage, anything that happens inside of your home, could be your responsibility. If a child throws a baseball through your big screen TV, your landlord is not going to pay to have it replaced.

Speaking candidly, as your independent agent, the main reason that many landlords want their tenants to carry such insurance is not because they care about you and want to make sure your property is protected. Landlords in Maryland are mostly looking out for their own interests. If a fire breaks out, a pipe bursts or something else happens to damage your property, you are more likely to sue the landlord if you do not have insurance of your own to cover the loss.