If you rent out residential property, whether it be a house, apartment, or condominium, you should consider investing in landlord insurance. Landlord insurance provides protection from financial loss that results from damages to a rental property due to fire, storm, break-in, and more.
What does landlord insurance cover?
Depending on your insurance carrier, you landlord insurance can include:
In the event of a storm, fire, tenant damage, or other damage to the property, your insurance company will cover the replacement or repair of property.
Liability coverage protects you against liability claims and lawsuits from tenants, their visitors, and trespassers if someone is injured or has their property damaged on your property.
Loss of Income
If your rental property becomes uninhabitable, loss of income coverage will compensate you for the lost rental income until your property is repaired.
There are other add-on options for landlord insurance, such as coverage for the furnishings and fixtures that you provide to your tenants. Ask your Yetter insurance agent about your options.
Why should I get landlord insurance?
Your rental property (or properties) are an investment and a source of income. If anything happens to your property, or you get caught up in an expensive legal battle, that investment could be more sunk cost than income.
To protect your rental property investment, and to make sure that you can have peace of mind renting your property, contact your Yetter insurance agent today at (570) 296-8329 to discuss your options and find the plan that’s right for you.
See also: Top Renters Insurance Myths