Addendum for Requirement of Tenant Insurance

When to Use
This form can be used regardless of whether you have obtained a specialty license to sell tenant contents insurance onsite. Whether or not you have such a license, if you choose to require your tenants to carry insurance, use this addendum, which the tenant signs, to acknowledge obtaining insurance is a contractual requirement for the tenant.

How to Use
This form has a fill-in-the blank in which you need to insert the dollar figure for the minimum amount of insurance coverage you require your tenant to obtain (if no amount is filled in, the minimum coverage amount defaults to $2,000). Then you will need to check one of two check boxes, indicating that the tenant either (1) will purchase insurance through your insurance program (if you have a specialty license), or (2) will purchase his own insurance and provide proof of insurance prior to move-in. Obviously, if you do not have a specialty license, checkbox “2” would be checked. Then both you and the tenant should sign and date the form.

Tips for Use
Always keep a copy of all executed addenda in a tenant’s file. Keep in mind that you cannot legally require the tenant to purchase insurance specifically from your provider, but you can legally require the tenant to purchase insurance. So, if you do require the tenant to obtain insurance, do not alter the form to require the tenant to purchase this insurance from your facility—tenants must always be given the choice concerning the insurance provider.