As a landlord, your list of responsibilities and to-do’s may seem endless, but one of the most important things on those lists is obtaining the rental property insurance you need to protect your personal interests. Excellence First Insurance knows your landlord insurance policy is essential to protecting your investments and long-term financial security. Our licensed insurance agents can help you understand your options and select the rental property insurance policy best suited for your needs.
How Much Rental Property Insurance Coverage Do Landlords Need?
The amount of coverage your rental property insurance policy needs to include varies based on the number of rental properties you own, the types of rental properties you own, the types of coverage you want to include in your policy, and other factors unique to your specific situation as a landlord.
Understanding your options and choosing the right amount of coverage doesn’t have to be difficult. At Excellence First Insurance our trusted advisors:
• Help you identify your unique needs and risks you need protection from
• Help you better understand your coverage options and answer your questions
• Help you choose the features and coverage levels you want in your policy
Choosing the right amount of rental property insurance coverage doesn’t have to be difficult. The licensed insurance agents at Excellence First Insurance will help you maximize your protection with a personalized rental property insurance policy at the best price!
Types of Rental Property Insurance Coverage
As the owner of a rental property you have unique risks you need to protect yourself and your investment from. Rental property insurance, also known as landlord insurance, offers different coverage options to help you minimize those risks. Rental property insurance policies typically offer the following types of coverage as either a standard or additional coverage option:
Dwelling coverage protects the physical structure of your rental property, such as the foundation, walls, roof, floor, window, and more. Dwelling coverage helps pay for the costs of repairing damages or rebuilding the physical structure of your rental property.
Other Structures Coverage
There may be other structures located on the same land as your rental property that are not physically attached to the rental property itself, such as a shed, fence, mailbox, or detached garage. This coverage helps pay for the costs of repairing damages or replacing these other structures.
Landlord Liability Coverage
Rental property owners can face liability if a renter or guest is injured on the premises or if the landlord is responsible for damage to another’s property.
Personal Property Coverage
Personal property coverage helps pay for the costs of repairing damages or replacing the personal property of
Loss of Rental Income Coverage
Owning rental property can be a valuable investment—until it is not. There can be a number of reasons a landlord is unable to fill a rental or is unable to collect income from a rental property such as a natural disaster, pandemic, or extensive property damage.
At Excellence First Insurance we specialize in finding competitive rental property insurance policies that offer you better protection within your budget. We know every landlord has unique needs and we strive to find the coverage options that offer you the maximum protection available within your budget. Trust our licensed insurance agents to find the rental property insurance policy that best protects your investment and long-term financial security.
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