If you own property that you lease to others as a place to live and not a business, you need to protect it and your interest in it against normal losses that can be insured for under a residential rental insurance policy. This policy was primarily used to protect against loss by fire, but has been modified over the years to provide coverage against most perils that homeowner policies cover.
The primary difference between a homeowners policy and a investor or landlord protection policy is personal property coverage. Most landlords expect that the tenant will provide all the personal property that they will use and that they will cover it with a Renters' policy. The landlord is only interested in insuring the structure.
What Coverage Can I Get?
Residential rental insurance starts with coverage for the structure of your investment. Other converages can be added including replacement cost of the dwelling, loss of rent, premise liability, and medical. Landlord Protection liability insurance options protect you and your spouse or domestic partner against personal injury, wrongful eviction, or wrongful entry as well as other non-bodily injury claims such as libel and slander.
How do I Know What I Need?
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 carriers gives you the flexibility to choose. We can offer personal advice about product availability and how much coverage is right for you. We’ll help you make sure your residential rental property is properly protected.
For additional protection, consider covering yourself with greater liability limits through a personal umbrella policy.