Landlord Insurance

Landlord insurance, also known as rental property insurance, is a crucial type of coverage for both tenants and property owners. While tenants require renters insurance to protect their belongings, landlords need landlord insurance, such as Rental Property Protection Plus coverage from Affordable Coverage Insurance, to safeguard their rental properties and assets housed within them.

Property Damage:

Landlord insurance typically covers property damage to a rental unit’s structure caused by covered perils like storms or fires.

Loss of Income:

It protects against loss of rental income if the property becomes uninhabitable due to a covered event, such as wind or hail damage.

Liability Situations:

Liability coverage safeguards landlords in cases where someone sustains injuries while on the rental premises, covering medical expenses and legal fees associated with the incident.

However, landlord insurance does not extend coverage to a tenant’s personal belongings or repairs to appliances on the property, such as broken refrigerators.

At Affordable Coverage Insurance, we understand the importance of safeguarding your rental properties. Our comprehensive landlord insurance policies offer dwelling coverage to protect the rental unit and its attached structures, including flooring, walls, and the roof. Additionally, our policies provide fair rental value coverage, compensating landlords for lost rental income in the event of property damage.

You can enhance your policy with additional coverages, including:

• Other structures coverage for buildings not attached to the house, such as garages or sheds.
• Personal property coverage for appliances and furniture provided in the rental units.
• Medical payments coverage for injuries that occur on the property.
• Premises liability coverage for legal liability related to bodily injury or property damage on the premises.

Landlord insurance costs depend on various factors, including the property’s location, age, and claims history. Without landlord insurance, landlords may be financially liable for repairs and legal costs arising from incidents on their rental properties.

Speak with one of our specialists to get your quote and get a landlord insurance policy today.