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AS A LANDLORD THAT OWNS INVESTMENT RENTAL PROPERTIES,YOU SHOULD READ CLOSELY
In recent years, over 364,000 residential building fires have caused suffering across the United States
As a homeowner with proper home insurance coverage, you should be protected from the damages that arise from damages, such as a fire. However, if you are a not presently living in your house, your rental property is not covered. If you are renting your home to someone else, then your homeowners insurance will be of no use. It's at this point where rental property insurance is necessary. Consider this as a homeowners insurance policy for landlords.
So, what exactly does a landlord insurance policy cover?
Rental property insurance, which is commonly referred to as landlords insurance, dwelling fire insurance or investment property insurance, is created to specifically protect rental property owners. The focus of landlord insurance is to protect you from the loss of income from your renters as a result of a fire at the property. Coverage depends on your specific policy, but it will generally cover you for up to a year’s worth of rental income. Having this replacement of income will allow you, as the landlord, not only the time, but also the resources to have your rental home rebuilt, repaired, and rented again in the future. A rental property insurance policy can also be created to provide liability coverage too.
Rental property insurance is worth it
Envision driving to work every day without an auto insurance policy or running a business without a policy for your company. It simply doesn't make sense. Having a landlord insurance policy is crucial if you can't afford to replace your property or lose the income you make from it. Without this protection, you could end up losing your property and accumulating a debt well into the hundreds of thousands of dollars. As you decide what direction to take as a landlord, call one of our agents here at InsuranceHub and we'll be happy to go over your options.
How much is rental property insurance?
This depends on the value of the investment properties you rent. Where are the rental properties located? How many of your rental properties do you need to insure? Are the properties vacant or is there someone currently living there? If you are searching for affordable landlord insurance, then give us a now and talk to a specialist.
Protect your property with the help of InsuranceHub
If you would like to find out more about our rental property insurance solutions, don't wait to contact our agents. We strive to direct our clients towards the right coverage for them. We would be delighted to answer any questions or concerns you have about this liability coverage, as well as provide you with a fast & free quote.