Rented Dwelling Insurance
Renting out properties can be a profitable business. But just like any other business, the business owner—or landlord—has responsibilities to ensure their business’s success. Rental property insurance helps financially protect rental property owners if they experience a covered loss.
What Does Rental Property Insurance Cover?
Rental property insurance may cover damage to a property’s structure and the landlord’s personal belongings, such as appliances or maintenance equipment. This coverage may also offer liability protection for legal or medical costs if a tenant or guest is injured due to a property maintenance issue. Coverage may also extend to loss of rental income if the landlord cannot rent their property because of a covered loss.
Rental property insurance is often supplemented with additional coverage that may offer cost savings later. Some of these other coverages include:
- Ordinance and Law coverage will cover costs incurred by bringing a building up to code after damage.
- Fair Rental Value covers the loss of rents sustained because a covered loss that makes the property uninhabitable.
- Additional Living Expense covers the expense to move your current tenants to a new property because of a covered loss.
- Personal Injury Protection protects against libel and slander.
- Landlords Furnishings Coverage covers any furnishings provided by the landlord.
We Can Help
Rental property insurance is essential if you’re a landlord with rental properties. Proper insurance can protect your financial livelihood. Charles G. Jordan Insurance can help you with your property insurance needs. Call us today to get started.