Landlord Insurance 101

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Renting out a property to someone else involves some risk. What if your tenants damage your property and you’re faced with an expensive repair job? To make sure your rental property is covered, you’ll want to have a landlord insurance policy with adequate coverage.

Landlord Insurance 101

Though similar to homeowners insurance, landlord insurance is an insurance policy specifically designed to cover your rental property. Not only does it cover the living space itself, but it also can also cover any structures on the property, such as a fence or shed. Types of landlord insurance vary and cover different aspects and features involved in your rental property. For example, you may be interested in a personal property coverage plan that covers any equipment or property used to maintain your property, such as landscaping machinery like a lawnmower.

Landlord insurance isn’t required by law, but depending on your lender, you may have to purchase a landlord insurance policy if you’re financing the rental property. However, even if your lender doesn’t require landlord insurance, it’s important that you find an adequate policy so that you get the coverage you need for your property and any related equipment and structures.

Finding the right landlord insurance for you and your property can be a pain, which is why we here at LaVaughn Rodgers Insurance are happy to help you find a policy that suits your needs. We sort through all of the policies out there and recommend the ones that are most appropriate for what kind of coverage you’re looking for, so come work with us to simplify the insurance policy search.