Even if your tenant has insurance, it doesn’t guarantee protection for you, the property owner. Our rental property insurance is tailored to address landlords’ unique challenges when leasing their properties.
Essential Protection for Property Owners:
Rental property insurance is akin to standard homeowners insurance but is crafted specifically for landlords. It comprehensively accounts for the distinct challenges when renting the property out, not owner-occupied.
Scope of Rental Property Insurance:
Beyond safeguarding the physical property and owner-provided contents (like furnishings), this insurance often compensates for lost rental income due to property damages, rendering it unrentable. Moreover, it can provide liability coverage if a tenant claims damages or injuries sustained within the property.
Shielding Against Rental-Related Risks:
The policy also typically encompasses costs associated with relocating tenants during property repairs and compensations for inconveniences, such as disruptions to heating or cooling systems.
What the Policy Usually Omits:
It’s crucial to note that such policies typically don’t cater to lost income due to a tenant’s default on rent or expenses related to eviction processes.
Please contact us for any questions or to secure the most fitting rental property insurance. We’re here to help.