Definition: The "tenants insurance cost" refers to the outlay that a tenant pays for security of his or her property, which includes all risks and expenses related to its maintenance and upkeep. In general, tenants insurance costs are charged on an annual basis based on the value of the tenant's property, as well as other factors such as damages caused by natural disasters, theft, vandalism, etc. The cost may be variable and may vary depending on the type of policy, location, and other factors.
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