Wisconsin Landlord Insurance Quotes

Wisconsin landlord insurance quotes are easy to get from our online request form, so you can compare the lowest prices for the kinds of coverage you need for your rental properties. Landlords in Wisconsin cities such as Appleton, Eau Claire, Green Bay, Janesville, Kenosha, Madison, Milwaukee, Oshkosh, Kenosha, Racine and other towns will need insurance to protect their investments.

Before deciding on a specific policy, there are several considerations for the types of coverage you can purchase as your Wisconsin rental property insurance.

Wisconsin Landlord Insurance Policy Considerations

The main reason to get landlord insurance is to protect your investment property from potential damage or even total loss in the event of an accident or the forces of nature. Most Wisconsin landlord insurance policies will cover your property for fire and smoke damage.

Water damage is of particular concern for Wisconsin landlords. Cold winters can lead to broken pipes as well as ice dams, which damage not only your roof, but also interior walls and ceilings. And in summer, there is the danger of wind storms, fallen trees and tornadoes.

So when looking for Wisconsin landlord insurance, make sure the policy you choose covers damage from these potential hazards. The policy you pick should reflect the types of coverage you need most and, of course, your particular financial situation.

Compare Wisconsin landlord insurance quotes on our site by using the form provided. We query a network of 200 landlord insurance providers, making sure you get the coverage you need at the lowest prices available on the market.

Be Sure to Add Protection for Flood Damage in Your Wisconsin Landlord Insurance Policy!

Flooding is a real problem in Wisconsin, especially in spring and summer, but note that it is not automatically covered in all landlord insurance policies. Be sure to add it when requesting Wisconsin landlord insurance quotes so you won't experience a gap in your coverage should your property be damaged by flooding.

Flooding in Wisconsin is usually caused by melting ice and snow, as well as heavy rains. And though across the U.S., flooding is a very common (and expensive) insurance claim, many landlords do not know that they don't have coverage until it is too late.

Be sure to add flood damage protection to your Wisconsin landlord insurance policy. Though it costs a bit more, a few dollars spent now can save you perhaps tens of thousands of dollars or an even greater amount in the future.

More Reasons to Get Wisconsin Landlord Insurance Quotes Today

Aside from property damage, another issue that faces Wisconsin landlords is rental income loss due to that property damage.

If, for instance, a wind storm or tornado pulls the roof off a rental unit, the tenants will most likely need to move elsewhere. Some types of landlord insurance will make up for this loss of rental income so that you will not suffer financially while repairs are made so you can rent the property again.

Insurance of contents in a building is another factor that Wisconsin landlords consider. This type of contents insurance does not cover a tenant's possessions; rather it covers the landlord's possessions, which might include furniture provided to renters in the case of a furnished apartment. This kind of insurance would also cover loss or damage to such items as refrigerators and other appliances the landlord makes available in the rental unit. Tenants should buy renter's insurance to cover their own possessions.

Of interest to most every landlord is coverage for liability and legal fees. When accidents happen on your rental property, you could be held liable. That means you might have to pay restitution to the injured party. This can be very costly in some instances, so be sure you have enough insurance to protect your assets and cover your legal fees should something so unfortunate occur.

Three Potential Pitfalls of Buying Wisconsin Landlord Insurance

The biggest pitfall when buying a Wisconsin landlord insurance policy is not having enough or even any flood damage protection, as mentioned above. But there are two other potential traps.

Many landlords might elect to buy a policy with deductibles that are quite high in order to save money on their premiums. If you have adequate savings, then this is a great way to keep your insurance costs low. But all too many landlords don't have access to the amount of money they would need to meet their deductible should something happen to their property. Not having enough funds to meet the deductible can cause all kinds of problems, not the least of which is delayed repairs.

Also, it can be tempting to insure your rental properties for cash value rather than replacement cost. Usually the appraised cash value of a property is considerably less than the amount of money it would take to actually rebuild it at today's construction prices should it be damaged severely or even completely destroyed. To make sure your property continues to provide income for you for years to come; be sure you insure it for its replacement value.

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