Being a landlord is tough work. Not only do you have to take care of your home or apartment, but you have to take care of your tenants’ homes or apartments. It takes a lot of work and patience to be a landlord and unfortunately it is sometimes a thankless job.
Even if you have one apartment or twenty, rental property insurance is one of the most important things when starting to rent properties. If you rent out multiple properties, homes, vacation rentals, or short-term rentals (like Airbnb), rental property insurance is a must. There are a few different types of coverage that you can choose including just a few of the following.
Comprehensive Property Coverage: This type of coverage generally covers named perils, which can be anything from fire, explosions, lightning, hail, and other natural or unnatural perils.
Liability Coverage: This is the same as any other liability coverage in that, if you’re found responsible for an accident or injury to someone on the rental premises, this will provide coverage.
There are more types of coverage to consider when purchasing rental insurance, so be sure to give us a call if you have any questions or would like a quote for your rental insurance.