Landlord Insurance Quote

Landlord insurance quote is what you need to get if you’ve been thinking about acquiring a rental property so you can have an extra income? Many people are renting for extra income these days, but one thing that a lot of people do not think about when doing this is all of the additional responsibilities they are going to have as landlords. Yes, there is money to be made, but money must also be spent. One of the things every landlord needs to invest in is landlord insurance.

There are a number of reasons why a landlord needs to have insurance for their building(s). Of course, you want to get the best prices, and so it’s necessary that you contact a few companies, and get a landlord insurance quote from each one to see who has the best deals. You can get a landlord insurance quote here by filling out our short form, which only takes a couple of minutes.

Here are some reasons why landlords need to have insurance:

  • Landlord Liability – It's not something that we want to think about, but accidents do happen, and if they happen on a rental property that you own, if you do not have liability insurance you could end up having a lot to pay in expenses. Let's say a tenant were to trip over a broken step on your property and injure themselves. They are well within their rights to expect you to pay for any medical expenses and other costs they incur as a result of the accident. This type of insurance covers your property only, and not any personal belongings of your tenants. They do need to have their own insurance to cover their possessions. If you own a commercial property, you are not as a rule covered by this type of landlord liability insurance, and you need to look into commercial property insurance instead. Get your landlord insurance quote in minutes by clicking on the link in this article.
  • Losing Rental Income – Often, landlords find that they have empty apartments or units following disasters, and of course, the longer these units remain empty, the longer the landlords are not receiving any income from them. This is why it is important to have rental income insurance. If you have a building that has been damaged by fire, flooding, earthquakes or other disasters, it may be a while before you are able to fix the building up, and you will be losing income while there is no one renting. Rental income insurance covers you for the time it takes to repair the damages so you will not be out any income while there is no one renting the unit.
  • Legal Expense Coverage – One of the worst nightmares for landlords is having tenants who cannot pay their rent. Often, this ends up in the courtroom, with landlords suing tenants for monies owed. If you find that you have a tenant who is unable to pay their rent, for any reason, and they must break their lease, having this type of insurance coverage is going to help with your legal expenses that you will have to pay to recoup some of your losses.
  • Content Insurance – Even if you do not live in a property that you own, you may have some of your belongings there. Actually, anything that is in the unit belongs to you. This includes lighting fixtures, carpeting, curtains and other window treatments, appliances, etc. You may even offer a furnished apartment for rent, and of course, the furniture will be your property as well. Of course, these are all things that can be damaged by tenants, or even stolen, and insurance will cover the cost of replacement. You can learn more when you inquire about your landlord insurance quote.
  • Building Insurance – This is extremely important. What is something happens to damage your building? There are all kinds of things that can happen. Disasters unfortunately happen, such as fires, severe weather, and even explosions, and the damages they cause can be severe. If you do not have the right building insurance, or have none at all, you may find yourself unable to afford to rebuild. Many things are covered by this type of insurance, even damages caused by vandalism, so it is important that if you have a rental property that you get a landlord insurance quote that includes coverage for the building itself.

If you are a landlord, or are thinking about purchasing a rental property, there are a lot of responsibilities, and one of those responsibilities is getting a landlord insurance quote. Once you have your quote, you can decide exactly what you need and what you can afford (don't forget, you can't afford to not have this insurance), you can get your policy, and know that as a landlord, you are going to be protected. It only takes a couple of minutes to fill out our short form to get your landlord insurance quote. Click here for your landlord insurance quote now.


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