Rental Property Protection

Property protection in a landlord insurance policy typically helps cover physical property related to the home you’re renting out. This may include the dwelling itself and the equipment you keep on-site to help maintain it. Coverage generally includes:

Dwelling
This coverage helps pay to repair your rented home, condo, or apartment if it’s damaged by fire, lightning, wind, hail or other covered losses.

Other structures
This part of your policy helps pay to repair detached structures on your rental property, such as a detached garage or fence if they’re damaged by a covered loss.

Personal property used to service the rental
If you leave a lawnmower or snow blower on-site to maintain your rental property, landlord insurance may help cover this equipment if it’s damaged. However, if you leave your personal bike or DVD player at the home you rent out, it likely won’t be covered under your landlord’s policy.

All of the above types of coverage are subject to the deductibles and limits stated in your specific Rental Property policy. Your deductible is the amount you’ll pay for a covered loss before your landlord insurance kicks in.

Liability Protection

The liability portion of a Rental Property insurance policy may help you pay for another person’s medical bills or your legal expenses if someone else is injured on your rental property and you’re found responsible.

Extra Rental Property coverages to consider

Depending on the neighborhood, geographic area or condition of your rental, you may want to consider adding on some optional coverages to your landlord policy. These coverages may include:

A) Vandalism

B) Burglary

C) Rental property under construction

D) Building codes

The primary type of insurance is the one taken by homeowners that are taken for private residences and ensured to back them up against a specific set of damages like fire, floods, earthquakes, theft, etc.

If you are a landlord, rental property insurance is what you’d opt for. It ensures to cover damages or losses that may arise due to negligence by the tenants. In addition, it helps pay for repairing damaged items like furniture, carpets, and other parts or items in a home that the tenant may damage. The terms of the policy may vary depending on the type of structure and the policyholder’s needs.

If you have any questions on rental property insurance or want to compare the best policies, contact us today!