Best Renter's Insurance Companies in Medford

FAQs

• Is it permissible for landlords in Medford to require tenants to obtain renters' insurance?

  Under Oregon Revised Statute 90.222, landlords in Medford can legally require tenants to have renters' insurance. While landlords cannot be added as additional insureds, they can be added as interested parties who will be notified if the policy expires. In order to keep the requirement reasonable, the statute also limits the amount of liability coverage a landlord can require.

• How much renters' insurance should Medford residents purchase for personal possessions?

  Medford residents should obtain adequate renters insurance to replace all of their personal belongings in the event of theft, fire, or any other covered occurrence. The most effective way to determine the value of your possessions is to create a detailed inventory of your home, including dates of purchase and estimated values, and calculate the total cost of replacement. It is recommended that you purchase the entire amount of insurance.

• What should Medford residents look for in a renters' insurance provider if they have specific circumstances like military service or pet ownership?

  Tenants in Medford with special needs, such as those who serve in the armed forces, own pets, own businesses, are in college, or are renting for the first time, should look into insurance companies that offer different coverage options and discounts. Veterinarians may look for companies that offer discounts to veterans, and dog owners may look for plans that cover pet liability. Individuals who have auto insurance should consider bundling options as well.

• Do renters' insurance policies in Medford provide coverage for damages caused by wildfires and volcanic eruptions?

  Renters' insurance policies in Medford cover damage from wildfires and volcanic eruptions. This means that if an evacuation is required, policyholders are covered for both increased living expenses and personal property damage. Renters must ensure that their personal property insurance is adequate in light of the increasing frequency of wildfires.

• Can landlords in Medford require tenants with incomes below 50% of the area's median to have renters' insurance?

  Landlords in Medford are not allowed to require renters insurance for tenants whose household income does not exceed 50% of the area median income, adjusted for a five-person family. This is consistent with regulations that take into account the financial burden on low-income tenants. Landlords must stay current on median income levels, which can fluctuate year after year.