out their place? I'm a bit confused. I was told when I refinanced my condo that I need renters insurance for my condo. We rent out our apartment to tenants. I've been doing some research and only see info on renters insurance for the tenant. I have condo insurance also. Thanks.

Renters Insurance can be for renters or landlords. Basically, there are two kinds. There is the kind that a renter would buy which protects all of the belongings inside the house. For example, televisions, vcrs, jewelry, etc. Renters Insurance for landlords covers damage renters might cause. An example would be water damage from letting the toilet overflow, or carpet that was burned when they dropped candles. In a lot of cases, it also insures you as the landlord should the person get hurt on your property and try to sue you for it.

Condo insurance is completely different. It usually only covers the outside building and landscaping should your unit catch on fire. However, it does not cover replacing kitchen cabinets, bathroom fixtures, or appliances.

One more thing to consider is adding on a home warranty even though you are already out of escrow. It will cost you about $250-500 per year and covers plumbing, electrical, appliance and air conditioning repair...things not covered by renters/condo insurance. (Definitely call around and try to get this. When you do call, make sure you bargain with the sales rep. They will give it to you for $250, but only if you ask.)

Hope this helps.

I have had renters' insurance for a lot of years now and mine has always been insurance on my belongings in the apartment or townhouse that I rent.

renters insurance is for the tenant. the tenant pays for it . It usually cost $12-$40/ month...