What is Landlords Insurance?Landlord insurance is designed for residential properties that are rented to others. It can help protect the rental building, certain property you keep at the premises, and your financial responsibility as a landlord. It may also help replace lost rental income when tenants cannot occupy the property following a covered loss.
Landlord insurance is different from homeowners insurance because rental properties have different risks and coverage needs. What Can Landlord Insurance Cover?Coverage varies by policy and property, but landlord insurance may include:
• Rental Dwelling: Helps cover damage to the house, duplex, apartment building, or other rental structure from covered losses. • Other Structures: May cover detached garages, fences, sheds, and other structures on the property. • Landlord-Owned Property: May protect appliances, tools, furnishings, or equipment you provide for the rental. • Landlord Liability: Helps protect you if someone is injured on the property and you are found legally responsible. • Loss of Rental Income: May replace lost rental income when the property becomes uninhabitable because of a covered loss. • Optional Protection: Additional coverage may be available depending on the property, tenants, and insurance company. A landlord policy generally does not cover a tenant’s personal belongings. Tenants should carry their own renters insurance. Flood and earthquake coverage may also require separate policies. Our licensed agents can help you understand the available options and find coverage suited to your rental property.
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