Landlord Insurance

If you are considering renting out your property, do not forget to protect your property with landlord insurance, which provides you with the coverage you require to protect your building from damage while protecting you from personal and legal liability.

Landlord Insurance Coverage

If you own a property or condo and rent out and lease the same, it is important to take this insurance coverage because it is a huge investment for you, which must be protected against damages or losses. The insurance policy covers

Commonly known as buy-to-let insurance, the landlord insurance policy may also include personal liability insurance, buildings coverage, litigation expenses coverage, and loss of rents.

The policy typically covers you against damage to your rental property or condo by fire, smoke, sewage backup, or burst pipes. The insurance may also cover you if your property lies vacant for a short period of time such as 30 days but if the property will be vacant any longer you need a different type of policy. Especially if you plan short term renting such as VRBO and Airbnb.

Landlord insurance policy may also protect you and your spouse against wrongful eviction or entry, personal injury, or non-bodily injury claims, including libel and slander, although you may need an umbrella policy for that coverage. While looking for this type of insurance, make sure to speak to an expert or an agent that has experience working with investors and rental properties.