§ 55-248.7:2. Landlord may obtain certain insurance for tenant.
A. Damage Insurance. A landlord may require as a condition of tenancy that atenant have commercial insurance coverage as specified in the rentalagreement to secure the performance by the tenant of the terms and conditionsof the rental agreement and pay for the cost of premiums for such insurancecoverage obtained by the landlord, generally known as "damage insurance."As provided in § 55-248.4, such payments shall not be deemed a securitydeposit, but shall be rent. However, as provided in § 55-248.9, the landlordcannot require a tenant to pay both security deposits and the cost of damageinsurance premiums, if the total amount of any security deposits and damageinsurance premiums exceeds the amount of two months' periodic rent. Thelandlord shall notify a tenant in writing that the tenant has the right toobtain a separate policy from the landlord's policy for damage insurance. Ifa tenant elects to obtain a separate policy, the tenant shall submit to thelandlord written proof of such coverage and shall maintain such coverage atall times during the term of the rental agreement. Where a landlord obtainsdamage insurance coverage on behalf of a tenant, the insurance policy shallprovide coverage for the tenant as an insured. The landlord shall recoverfrom the tenant the actual costs of such insurance coverage and may recoveradministrative or other fees associated with administration of a damageinsurance policy, including a tenant opting out of the insurance coverageprovided by the landlord pursuant to this subsection. If a landlord obtainsdamage insurance for his tenants, the landlord shall provide to each tenant,prior to execution of the rental agreement, a summary of the insurance policyor certificate evidencing the coverage being provided and upon request of thetenant make available a copy of the insurance policy.
B. Renter's Insurance. A landlord may require as a condition of tenancy thata tenant have renter's insurance as specified in the rental agreement that isa combination multi-peril policy containing fire, miscellaneous property, andpersonal liability coverage insuring personal property located in residentialunits not occupied by the owner. A landlord may require a tenant to pay forthe cost of premiums for such insurance obtained by the landlord, to providesuch coverage for the tenant as part of rent or as otherwise provided herein.As provided in § 55-248.4, such payments shall not be deemed a securitydeposit, but shall be rent. If the landlord requires that such premiums bepaid prior to the commencement of the tenancy, the total amount of allsecurity deposits and insurance premiums for damage insurance and renter'sinsurance shall not exceed the amount of two months' periodic rent.Otherwise, the landlord may add a monthly amount as additional rent torecover the costs of such insurance coverage. The landlord shall notify atenant in writing that the tenant has the right to obtain a separate policyfrom the landlord's policy for renter's insurance. If a tenant elects toobtain a separate policy, the tenant shall submit to the landlord writtenproof of such coverage and shall maintain such coverage at all times duringthe term of the rental agreement.
C. Where a landlord obtains renter's insurance coverage on behalf of atenant, the insurance policy shall provide coverage for the tenant as aninsured. The landlord shall recover from the tenant the actual costs of suchinsurance coverage and may recover administrative or other fees associatedwith the administration of a renter's insurance policy, including a tenantopting out of the insurance coverage provided to the tenant pursuant to thissubsection. If a landlord obtains renter's insurance for his tenants, thelandlord shall provide to each tenant, prior to execution of the rentalagreement, a summary of the insurance policy prepared by the insurer orcertificate evidencing the coverage being provided and upon request of thetenant make available a copy of the insurance policy.
§ 55-248.7:2. Landlord may obtain certain insurance for tenant.
A. Damage Insurance. A landlord may require as a condition of tenancy that atenant have commercial insurance coverage as specified in the rentalagreement to secure the performance by the tenant of the terms and conditionsof the rental agreement and pay for the cost of premiums for such insurancecoverage obtained by the landlord, generally known as "damage insurance."As provided in § 55-248.4, such payments shall not be deemed a securitydeposit, but shall be rent. However, as provided in § 55-248.9, the landlordcannot require a tenant to pay both security deposits and the cost of damageinsurance premiums, if the total amount of any security deposits and damageinsurance premiums exceeds the amount of two months' periodic rent. Thelandlord shall notify a tenant in writing that the tenant has the right toobtain a separate policy from the landlord's policy for damage insurance. Ifa tenant elects to obtain a separate policy, the tenant shall submit to thelandlord written proof of such coverage and shall maintain such coverage atall times during the term of the rental agreement. Where a landlord obtainsdamage insurance coverage on behalf of a tenant, the insurance policy shallprovide coverage for the tenant as an insured. The landlord shall recoverfrom the tenant the actual costs of such insurance coverage and may recoveradministrative or other fees associated with administration of a damageinsurance policy, including a tenant opting out of the insurance coverageprovided by the landlord pursuant to this subsection. If a landlord obtainsdamage insurance for his tenants, the landlord shall provide to each tenant,prior to execution of the rental agreement, a summary of the insurance policyor certificate evidencing the coverage being provided and upon request of thetenant make available a copy of the insurance policy.
B. Renter's Insurance. A landlord may require as a condition of tenancy thata tenant have renter's insurance as specified in the rental agreement that isa combination multi-peril policy containing fire, miscellaneous property, andpersonal liability coverage insuring personal property located in residentialunits not occupied by the owner. A landlord may require a tenant to pay forthe cost of premiums for such insurance obtained by the landlord, to providesuch coverage for the tenant as part of rent or as otherwise provided herein.As provided in § 55-248.4, such payments shall not be deemed a securitydeposit, but shall be rent. If the landlord requires that such premiums bepaid prior to the commencement of the tenancy, the total amount of allsecurity deposits and insurance premiums for damage insurance and renter'sinsurance shall not exceed the amount of two months' periodic rent.Otherwise, the landlord may add a monthly amount as additional rent torecover the costs of such insurance coverage. The landlord shall notify atenant in writing that the tenant has the right to obtain a separate policyfrom the landlord's policy for renter's insurance. If a tenant elects toobtain a separate policy, the tenant shall submit to the landlord writtenproof of such coverage and shall maintain such coverage at all times duringthe term of the rental agreement.
C. Where a landlord obtains renter's insurance coverage on behalf of atenant, the insurance policy shall provide coverage for the tenant as aninsured. The landlord shall recover from the tenant the actual costs of suchinsurance coverage and may recover administrative or other fees associatedwith the administration of a renter's insurance policy, including a tenantopting out of the insurance coverage provided to the tenant pursuant to thissubsection. If a landlord obtains renter's insurance for his tenants, thelandlord shall provide to each tenant, prior to execution of the rentalagreement, a summary of the insurance policy prepared by the insurer orcertificate evidencing the coverage being provided and upon request of thetenant make available a copy of the insurance policy.
§ 55-248.7:2. Landlord may obtain certain insurance for tenant.
A. Damage Insurance. A landlord may require as a condition of tenancy that atenant have commercial insurance coverage as specified in the rentalagreement to secure the performance by the tenant of the terms and conditionsof the rental agreement and pay for the cost of premiums for such insurancecoverage obtained by the landlord, generally known as "damage insurance."As provided in § 55-248.4, such payments shall not be deemed a securitydeposit, but shall be rent. However, as provided in § 55-248.9, the landlordcannot require a tenant to pay both security deposits and the cost of damageinsurance premiums, if the total amount of any security deposits and damageinsurance premiums exceeds the amount of two months' periodic rent. Thelandlord shall notify a tenant in writing that the tenant has the right toobtain a separate policy from the landlord's policy for damage insurance. Ifa tenant elects to obtain a separate policy, the tenant shall submit to thelandlord written proof of such coverage and shall maintain such coverage atall times during the term of the rental agreement. Where a landlord obtainsdamage insurance coverage on behalf of a tenant, the insurance policy shallprovide coverage for the tenant as an insured. The landlord shall recoverfrom the tenant the actual costs of such insurance coverage and may recoveradministrative or other fees associated with administration of a damageinsurance policy, including a tenant opting out of the insurance coverageprovided by the landlord pursuant to this subsection. If a landlord obtainsdamage insurance for his tenants, the landlord shall provide to each tenant,prior to execution of the rental agreement, a summary of the insurance policyor certificate evidencing the coverage being provided and upon request of thetenant make available a copy of the insurance policy.
B. Renter's Insurance. A landlord may require as a condition of tenancy thata tenant have renter's insurance as specified in the rental agreement that isa combination multi-peril policy containing fire, miscellaneous property, andpersonal liability coverage insuring personal property located in residentialunits not occupied by the owner. A landlord may require a tenant to pay forthe cost of premiums for such insurance obtained by the landlord, to providesuch coverage for the tenant as part of rent or as otherwise provided herein.As provided in § 55-248.4, such payments shall not be deemed a securitydeposit, but shall be rent. If the landlord requires that such premiums bepaid prior to the commencement of the tenancy, the total amount of allsecurity deposits and insurance premiums for damage insurance and renter'sinsurance shall not exceed the amount of two months' periodic rent.Otherwise, the landlord may add a monthly amount as additional rent torecover the costs of such insurance coverage. The landlord shall notify atenant in writing that the tenant has the right to obtain a separate policyfrom the landlord's policy for renter's insurance. If a tenant elects toobtain a separate policy, the tenant shall submit to the landlord writtenproof of such coverage and shall maintain such coverage at all times duringthe term of the rental agreement.
C. Where a landlord obtains renter's insurance coverage on behalf of atenant, the insurance policy shall provide coverage for the tenant as aninsured. The landlord shall recover from the tenant the actual costs of suchinsurance coverage and may recover administrative or other fees associatedwith the administration of a renter's insurance policy, including a tenantopting out of the insurance coverage provided to the tenant pursuant to thissubsection. If a landlord obtains renter's insurance for his tenants, thelandlord shall provide to each tenant, prior to execution of the rentalagreement, a summary of the insurance policy prepared by the insurer orcertificate evidencing the coverage being provided and upon request of thetenant make available a copy of the insurance policy.
