Rental property insurance, also known as landlord insurance, is designed to protect property owners who rent out residential or commercial properties. It provides financial coverage against unexpected events such as fire, theft, natural disasters, or liability claims. These policies typically cover the structure of the rental property and any personal property used for maintenance, such as tools, equipment, and appliances. Liability coverage is also included, protecting landlords in case someone is injured on the property or if they are held liable for damage to others’ property. It can also help with legal fees and lawsuits.
landlord insurance may include coverage for lost rental income if the property becomes uninhabitable due to a covered event. This helps landlords recover income while repairs are underway. Although landlord insurance is not legally required, many mortgage lenders and property management companies do mandate it. Even if it is not a requirement, having this insurance is highly recommended to safeguard your investment. The cost of coverage varies based on factors such as location, property size, age, condition, and coverage limits.
Repairs to your rental property caused by fire, storm, or vandalism are covered.
In case a tenant or visitor is injured while on your property, liability coverage helps with medical bills and legal fees.
If your property becomes uninhabitable, the insurance helps cover the income you would have earned while it’s being repaired.
If a tenant causes damage to the property, you can be compensated for repairs or replacement costs.
We’re happy to answer any questions you may have and help you determine which of our services best fit your needs
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