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=Landlord Insurance Cost

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=Landlord Insurance Cost

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  1. Landlord Insurance A Handy Guide

  2. What Is Landlord Insurance?​ • Your rental property requires more than a homeowners policy if you're renting out for a long period of time. • Landlord insurance protects you from financial losses caused byproperty damage or injury to your tenants or their guests while on your property.​

  3. What Does Landlord Insurance Cover?​ Basic Coverage • Dwelling Coverage​ • Loss of Rental Income​ • Liability Coverage​ Additional Coverage • Building Code Coverage​ • Flood Insurance​ • Earthquake Insurance​ • Non-Occupancy Dwelling Coverage​ • Emergency Coverage​

  4. Landlord Insurance Vs Homeowners Insurance​ • If you're planning to rent out your property for a short period of time, some insurance carriers may allow you to add an endorsement on homeowners insurance.​ • If your tenants are staying for longer, landlord insurance is a must.​ • Homeowners insurance is only applicable to owner-occupied homes.​ • Landlord insurance covers loss of rental income.​

  5. Landlord Insurance Vs Renters Insurance​ • Landlord policy covers the owner's dwelling against liability risks and lost rental income. • Renters insurance covers the tenants and their personal property and any damage caused to the rental property.

  6. Landlord Insurance Companies​ ​According to Value Penguin, the national annual average landlord insurance cost is currently $1,800. Best companies to purchase landlord insurance from:​ - State Farm​ - Liberty Mutual​ - Allstate​ - American Family Insurance​ - Travelers​

  7. How To Get Lower Insurance Premiums​ • Maintain your property​ • Pay higher deductibles​ • Bundle your policies​ • Require your tenants to get renters insurance​

  8. In Conclusion​ • Homeowners insurance and/or renters insurance aren't replacementsor alternatives to landlord insurance.​ • Your rental property needs specialized protection because of your exposure to unique risks and perils.​ • Talk to our insurance experts to get the best landlord insurancequotes and advice.​

  9. Learn More About Landlord Insurance

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