Landlord Insurance

 Landlord insurance is designed specifically for property owners who rent out residential properties. Unlike standard home insurance, it covers unique landlord risks such as tenant-related damage, building repairs, liability issues, and loss of rental income. It is often required by mortgage lenders and is essential for smart property management.  

A well-rounded policy usually includes:

• Property damage: From fire, storms, vandalism, burst pipes, or tenant-related damage.
   
• Liability protection: Covers injuries or legal claims from visitors or tenants.
   
• Loss of rental income: Reimburses lost rent if the property is unlivable due to a covered event. 

Homeowners policies are meant for owner-occupied homes and typically exclude rental use. Landlord insurance specifically covers tenant-occupied properties and protects the owner’s financial interests when renting out a property. 

Yes. You can often add supplemental protection such as:

• Loss of rent if tenants default.
• Water or sewer backup.
• Vandalism or burglary for landlord-owned items.
• Coverage during vacant periods.

These allow for customization based on your property’s unique risks.

 Premiums are influenced by factors like the property’s location, age, occupancy type, and coverage limits. Policies typically cost more than standard homeowners insurance—on average around 15% higher—due to increased risks tied to tenant-occupied properties.