What Does Landlord Insurance Cover?

Landlord insurance is a unique policy crafted to financially safeguard property owners who lease their homes, apartments or other types of dwellings. Unlike typical homeowners insurance, landlord insurance offers coverage specifically designed to address the distinct risks involved in renting out properties.

Landlord Insurance Coverage Options

The following are common coverage areas that landlord insurance may be able to help with:

• Property damage—Landlord insurance typically helps cover physical damage to the rental property caused by events such as fire, wind, hail and vandalism. This can include the main dwelling and any unattached structures like garages, sheds or fences.

• Liability protection—If a tenant or visitor is injured on the property, landlord insurance can help cover legal fees, medical expenses, and any settlements or judgments against the landlord. This liability coverage is crucial for protecting landlords from potentially costly lawsuits.

• Loss of rental income—If the rental property becomes uninhabitable due to a covered event, landlord insurance can compensate for the lost rental income during the repair period. This can help landlords maintain their income stream even when the property is temporarily out of commission.

• Personal property—While landlord insurance does not cover tenants’ belongings, it can cover the landlord’s personal property used to service the rental, such as maintenance equipment or appliances in the rental unit.

It’s important to note that landlord insurance typically does not cover normal wear and tear, tenant’s personal property or maintenance issues. Additionally, certain natural disasters like earthquakes or floods may require separate policies.

Learn More

For landlord insurance near you, contact Bargain Insurance Connection.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.