Anyone who owns investment property that is rented out, even if the renter is a relative is a potential candidate for landlords insurance. Accidents can happen at any time, resulting in damage to your property or injury to someone on your property. As the owner of the property, you’re liable if someone slips and falls on the stairs, for example. If the building burns down accidentally, you’ll want the funds to rebuild again. If your relative decides to leave before the end of the lease and you’re stuck without rental income, you’ll wish you had coverage.
Landlord insurance generally covers your rental building for:
Depending upon the insurance company, the policy may offer complete repair or replacement, or it may only cover up to the dollar amount you’ve chosen.
Landlord Insurance Is a tailored insurance product designed to protect your investment property against a range of circumstances that are NOT generally covered under a standard home insurance policy.
Core Policy Benefits