To cut to the chase, the main objective of Home Insurance is to preserve your property and personal belongings from particular accidents (named in insurance policies as “perils”) which are basically fire and lightning strikes; Homeowners Insurance is intended to back you up in case of loss or harm to your home. The other most noteworthy purpose of home insurance is to grant liability assurance.
The question about the duties and responsibilities of the tenant and the landlord in the United States has come back to us quite often in the past year. It, therefore, seems important to us to start the year by reminding everyone of the importance, obligations, and responsibilities related to their Home Insurance.
• THE PROPERTY :
The landlord in the United States is required to provide the tenant with clean, in excellent condition and habitable property. Under American law, the owner is held responsible for everything that is associated with the house permanently. This includes light fixtures (attached to walls and ceilings), plumbing, electricity, ceiling fan, etc.
The landlord in the United States must also provide the tenant with basic household appliances such as the stove, the fridge, and the dishwasher. All these elements are the responsibility of the owner and their maintenance is, therefore, the responsibility of the latter.
When a tenant leaves a property, he is required to leave them in good condition, free of all debris. If this is not the case, the owner can, therefore, use part or all of the deposit to cover the costs of not complying with this commitment. However, the tenant is not responsible for the deterioration of the items caused by wear and tear due to the normal and regular use of these.
• Home INSURANCE:
The owner must insure the property against the risk of fire and civil liability in the event of an accident. However, it is strongly recommended to ensure the house against water damage, vandalism, and theft, whether occupied or vacant.
Insurance policies are subject to a $ 500 deductible in the event of a claim. If the repairs following the damage caused are less than or equal to $ 500, then there is no point in calling the police because you will not receive anything. In addition, with each complaint made, the annual rate of your insurance policy increases and more generally, all the insurance policies subscribed in the name of your company will increase.
In the United States, tenants are not required to insure housing. If they have insurance, it only covers them against theft and damage to their property or in the event of a physical accident on their property. Their insurance does not cover damage, theft, and vandalism on the property or anything permanently attached to it. If an act of vandalism occurs on your property and a door is forced or tiles are broken, the costs are the responsibility of the owner and the insurance of the tenant cannot work.
What is covered by homeowners insurance?
Homeowners’ policies are made up of insurance coverages to help them pay for the necessary repairs or replacements of any home belongings in case they got destroyed by particular perils, such as fire or vandalism. It may additionally cover expenses if you unintentionally destroy another person’s home or if a guest is hurt at your own house.