Landlord Insurance Coverage—Let’s Dive in.
Being a Landlord can be a challenge. You have to protect a home that someone else lives in 24/7. What is the best way to do that? Making sure your Landlord Insurance Coverage is set up correctly is a great start! Here’s a few Points to consider;
Landlord Insurance Coverage can also can be known as dwelling fire insurance or Rental Dwelling Polices. These types of can coverage protect rental properties and the owners risk of owning these properties.
These policy type will Typically single family homes, duplexes, triplexes, and quads but can include other types of properties.
Rental Dwelling Polices can take multiple forms, and will typically start with Fire coverage. Along with fire, the property can be protected from numerous other exposures. Landlord Insurance can be customized to provide coverage for a variety of different day to day risks such as;
Fair Rental Value Coverage: If you property is damaged and deemed unlivable due to a covered loss, the fair rental value coverage will help reimburse your loss of income.
Personal Injury Protection: If someone claims you caused injuries out of libel, slander, wrongful eviction or unlawful entry, personal injury protect can help cover you, make sure its a part of the conversation with your agent!
Liability Protection: If a claim is made against your for accidental damage with relation to your rental property, the liability could provide some important coverage’s.
What is the best way to purchase property insurance?
Going to an agent who can only sell through one company works for some, but not everyone. Getting quotes from multiple insurance carriers is a good way to make sure the rates you are seeing are competitive.
An agent who can sell multiple companies can give you multipe options and possibly better coverage.
If are in the market for landlord insurance, contact Millennium Brokers serving Springfield and the Surrounding Cities. Millennium Brokers offers Landlord Insurance policies with over 10 Insurance Companies. We can help find the polices that meets your needs while saving you money.
Check out our last blog post about Landlord Insurance for more valuable information!