Protecting yourself financially must be your first priority if you’re a property owner or a landlord. We say this because incidents causing financial loss to you or your property are very common. According to a survey, about one in twenty homes with insurance has a claim every year. In fact, the Insurance Information Institute found that the average damage claim added up to $13,687 during the last four years. This financial loss can be even bigger if you own multi-family buildings.
Let us delve into the details to understand why you need rental property insurance