Landlord insurance protects investment property, rental income, and owners from financial losses and legal liabilities from renting the property to tenants. These well-known risks include maintaining the property and managing tenants; landlords are exposed to potential lawsuits.
Benefits of having landlord insurance:
- Peace of mind: Knowing that you are financially protected in the event of a loss can give you peace of mind and allow you to focus on managing your rental property.
- Financial protection: Landlord liability insurance can help you cover the cost of repairs, legal fees, and lost rent if your rental property is damaged or a tenant is injured.
- Compliance with lender requirements: Many lenders require landlords to have landlord insurance as a condition of financing a rental property.
Landlord insurance may provide coverage for:
- Property damage: Landlord insurance can protect against damage caused by perils such as fire, storms, vandalism, and theft.
- Loss of rental income: Landlord insurance can also provide coverage for risks unique to rental properties, such as tenant default, eviction costs, and fair housing violations. It also covers the rental property if it becomes uninhabitable due to a covered loss. Landlord insurance can provide coverage for the lost rental income during the repair or rebuilding process.
- Liability claims: Landlord insurance can protect against lawsuits and legal claims brought by tenants, guests, or third parties for injuries or damages that occur on the rental property. If you’re ever found liable for someone injured on your property, or if you are required to pay for damage done to someone else’s property, it can cost you heavily.
Landlord insurance does not cover damages inside rental units or property damage. caused by tenants. Make sure all tenants have renters insurance.
What does Landlord property insurance help cover?
Landlord liability coverage kicks in to help pay medical expenses for injured tenants or legal defense and court judgments made against you for other damages up to the limits stated in your policy. Coverage may include:
- Tenant injuries
- Proper security for your tenants
- Unlawful behavior by tenants
- General Liability
- Fair Rental Value Coverage
- Inflation Protection
- Personal Injury Protection
- Lock replacement
Discounts for Landlords
You may qualify for a discount on Landlord Insurance policies, including:
- Multiple policies
- New/renovated homes
- And more
What’s the cost of Landlord Insurance?
Our Company specializes in covering local owners like you. We have everything you’ll need, including:
- Monthly payment options
- Coverage of staff
- Claims responsiveness
- Tailored coverage
- Knowledgeable agents
- Fast and simple
Don’t rent a house without it…
Why We’re Different
While most insurance products are similar in price and function, insurance providers vary when structuring a policy tailored to you.
After all, there’s no such thing as a one-size-fits-all insurance policy for your business.
Contact us today for a no-obligation quote, and we’ll help you protect what matters most.