Insurance Tips for Landlords

If you own a rental property you want to make sure that both YOU and YOUR PROPERTY or adequately insured. Here are a few tips!

  1. If you previously occupied a home but have decided to rent it out, you’ll want to change it from a traditional policy to a “Landlord” Policy. The difference is that with a Landlord Policy it will just cover the structure and not the contents. Your tenant should have renters insurance which will cover their contents.
  2. You’ll want to add liability coverage to your policy. This is usually expensive and will cover you if a tenant ever claims damage or injury as a result of your negligence. You’ll want a minimum of $100K coverage (liability) and if you have a pool you’ll want a minimum of $300K coverage.

For additional tips or insurance referrals, feel free to contact us!