TENANT(s) understands and agrees that TENANT's personal property is not insured by LL Moody Properties, LLC, referred to as LESSOR. Generally, except for under special circumstances, the LESSOR is not legally responsible for losses or damages. Tenant acknowledges that the LESSOR's insurance does will not cover any damages to TENANT's personal property or for TENANT's personal liability, and TENANT agrees to save and hold the LESSOR harmless from any claim for damages. FURTHERMORE, the TENANT agrees to save and hold the LESSOR harmless from any claim from damages to Tenant's personal property arising from any cause, including fire, leakage from plumbing, leakage from roofs, weather, unreported mold, or any other water damage.
If damages or injury to the LESSOR's property is caused by TENANT or TENANT's guest(s), the LESSOR's insurance company may have the right to sue the TENANT to recover payments made to the LESSOR. This is referred to as "subrogation". In other words, after the insurance company had paid LL Moody Properties, LLC for damages that you caused, the insurance company may go after you for the full amount of money paid out. At the very least, you will be expected to pay the LESSOR's deductible on the insurance policy.
The LESSOR advises TENANT(s) to procure a renter's insurance policy for protection against personal property losses and liability claims. The LESSOR does not recommend any particular company. The cost of the TENANT's insurance policy is reasonable considering the peace of mind, protection, and financial security that rental insurance provides.