Hi All,
My parents live in a condo that is under my name. I need advice if I should keep paying the renters policy. It is a small 800 sq ft. place. Their belongings are old and don't hold much value. They don't have visitors so the liability insurance doesn't seem like is needed. If they get sued they don't have that many assets because they are in retirement age. I am just not sure it is worth it having a renters policy. I pay for the HOA monthly and home insurance. Is it really necessary to have a renters policy?
Let me know your thoughts,
J