What Does Landlord Insurance Cover?
Owning a rental property comes with the unexpected. Having the right coverage means being prepared for it.
Dwelling Coverage
Helps cover damage to your rental property’s structure from covered events such as fire, windstorms, and hail.
Other Structures
Helps protect detached structures on your rental property, such as garages, fences, and sheds, against covered losses.
Landlord Liability
May help cover legal expenses and damages if you’re held legally responsible for injuries or property damage.
Loss of Rental Income
May replace lost rental income if a covered property loss makes your rental unit uninhabitable, subject to policy limits.
Landlord-Owned Property
May cover appliances, furnishings, and equipment you own and provide for use or maintenance of the rental property.
Optional Water Backup
Additional coverage may be available for certain damage caused by water backing up through sewers or drains.
Every rental property comes with its own risks. Let’s explore coverage options that fit yours.
Why Choose Cherries Insurance for Your Rental Property?
Managing a rental property is complicated enough. Finding the right insurance shouldn’t be.
Insurance That Understands Rental Properties
A tenant-occupied property has different risks than a home you live in. We help you find insurance designed for those differences.
Prepared for the Unexpected
Fires, storms, and accidents can disrupt your plans. We help you evaluate protection for the events that could affect your property.
Think Beyond the Building
Property damage is only part of the picture. We also help you consider liability exposure and potential interruptions to rental income.
The Details That Make a Difference
No two rental properties are exactly alike. We help you consider the property’s unique characteristics and potential exposures that might otherwise be overlooked.
Landlord Insurance FAQs
Rental property ownership raises important insurance questions. Here are a few answers worth knowing before choosing your coverage.
What’s the difference between landlord insurance and homeowners insurance?
Homeowners insurance is generally designed for owner-occupied homes, while landlord insurance is designed for properties rented to tenants. Landlord policies typically address building damage, liability risks, and potential loss of rental income.
Does landlord insurance cover damage caused by tenants?
It depends on the type of damage and your policy. Certain accidental damage may be covered, while normal wear and tear, neglect, and intentional damage by tenants are often excluded. Coverage varies by insurer.
Does landlord insurance cover my tenants’ belongings?
Generally, no. Landlord insurance primarily protects the property owner’s insured interests, not tenants’ personal belongings. Tenants typically need their own renters insurance to protect their possessions and personal liability.
Does landlord insurance cover lost rental income?
Many landlord policies offer fair rental value coverage, which may compensate for lost rental income when a covered property loss makes the rental unit uninhabitable. Coverage is subject to policy terms, limits, and exclusions.