Do you have a rental property that you lease to a tenant for rental income? As a landlord renting out your investment property, you’ve got a lot on your mind. Finding the right tenants, keeping up with repairs; the list goes on and on. With the proper Landlord Protection Insurance, you could have one less thing to worry about. Rental property insurance protects your property from damages, and you from losing income should covered damages make your property unlivable.
Whether you only need a landlord insurance policy with coverage for the most common types of losses or a fully loaded policy that offers more protection, our agency represents companies that offer you the flexibility to choose.
What is Landlord Protection Insurance?
Landlord Protection is insurance for non-commercial landlords who own and rent one to four unit tenant-occupied residential properties. This coverage not only protects your investment from damage, but it also protects you from certain types of liability unique to landlords, like wrongful eviction and entry.
What does Landlord Insurance cover?
- Your residential rental property; single-family, duplex, triplex and quad
- Other structures on the property such as sheds, garages, etc.
- Items on the premises you own such as microwaves, washers and dryers being used by your tenants – even tools you keep handy for repairs
Customize Your Policy
Owning an investment property presents specific insurance issues unique to your situation. Recognizing that, many companies offer landlord policies that can be tailored to your needs. Landlord Insurance coverage options available to you include:
- Liability – if a claim is made against you for accidental damage in relation to your rental property, the company will defend those claims, and pay those claims for which you are legally responsible, up to your policy limits.
- Fair Rental Value Coverage – if your property is deemed unlivable due to a covered loss, you will be reimbursed for the income you’ll lose because your tenants will no longer be paying you rent.
- Inflation Protection – the cost of making repairs is increasing every day. With Inflation Protection Coverage, your policy limits will automatically be adjusted to keep pace with inflation – and you will receive a discount on your policy premium.
- Personal Injury Coverage – if a claim is made against you for injuries arising out of libel, slander, invasion of privacy, wrongful eviction or wrongful entry.
- Lock replacement
We would love to answer any questions you may have to find out if this coverage is right for you and your property. It’s important take the time to make sure your rental property is properly protected.