Is there an ordinance or law requiring renter’s insurance in Chicago or in Illinois?

Quick hit: mandatory renter’s insurance requirements? No.  At this time, there is no ordinance in the City of Chicago that requires that a tenant obtain renter’s insurance.  In fact, there is no statute in the State of Illinois that requires a tenant to provide such a policy.  Landlords can, as a contractual provision and a … Read more

Rent protection insurance comes to Illinois

Beginning at the start of this year, insurance company Aon, through a subsidiary known as Affinity Insurance Services, Inc., has been offering an interesting product to landlords known as “Aon Rent Protect“.  A representative of Aon Rent Protect who I spoke with indicated that this is an American version of a product that Aon has sold in Europe for many years.  While I have not had a client who has had first hand experience with the policy, the suggested protections are intriguing.

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Illinois landlord tenant insurance requirements

Photos courtesy of and copyright Free Range Stock, www.freerangestock.comA pipe accidentally bursts in the closet wall of a rented apartment and a tenant’s property suffers major water damage.  The tenant thinks the landlord is responsible and that the landlord’s insurance will cover the tenant’s damaged property.  In most cases, the tenant is, unfortunately, mistaken.  What kind of rules govern the insurance requirements of landlords and tenants? 

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