Owning rental property can be both very rewarding and very stressful. Like many other investments, you want to be assured that you are protected from any potential liability exposures. You may also need to be sure that the rental income you receive is not interrupted for any lengthy period of time.
Fortunately, Landlord’s Coverage for Rental properties provides the essential property and liability insurance that can protect you from financial hardship if any number of unforeseen events should occur.
You have many choices to make when insuring your investment property. Dwelling Fire Special Form Policy protects your dwelling and other buildings such as sheds and garages from "all risks," unless specifically excluded.
Or, a Dwelling Fire Broad Form Policy protects your property from losses specifically listed.
Some examples of losses covered are: Collapse, Explosion, Fire, Hail, Lightning, Smoke, Vandalism, and Windstorm.
What will rental property insurance cover me for?
Coverage can range from simple fire coverage to "all-risk" coverage (except for losses specified in the contract).
Will this insurance cover appliances that are part of the property?
Yes. You can add coverage for the property you own located in the rental property.
Do my tenants have to buy this insurance?
Rental property insurance is purchased by the property owner. Your tenants should purchase renters insurance to protect their personal belongings.
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