Homeowners insurance vs. landlord insurance
A regular homeowners policy isn't going to give you the same coverage you need for rental properties.
Loss of rents–while your property is being repaired or rebuilt after a covered loss, your policy will pay for your loss of rents.
Liability–landlord liability is different from your own personal liability. If a covered loss or injury occurs at the property, you'll want legal fees and medical expenses covered.
Personal property–this coverage is typically high on a homeowners policy. On a rental property, you only need to cover the amount of furniture you're providing. Your tenants should purchase a separate renters insurance policy to cover their personal belongings.
Whether you own one rental home or have multiple investment properties, we can get set up with a landlord protection policy (also known as dwelling fire insurance) so that you can rent out your property in confidence.
Do I need landlord protection insurance?
If you rent out your house, then most likely yes. Think of your property as a business and the dwelling policy as a necessary investment to keep your business running smoothly.