Insurance for Landlords – An Overview 

Owning rental properties can be a rewarding investment, but it also comes with significant risks and unique responsibilities. Entrusting buildings and premises to other parties, especially given that you likely won’t be present, can expose you to potentially catastrophic financial losses and legal liabilities. With these things in mind, landlord insurance is a crucial part of any financial strategy for rentals.

What Is Landlord Insurance?

Landlord insurance, also known as rental property insurance, is a type of policy designed specifically for property owners who rent out homes, apartments or other spaces. Unlike standard home insurance, which typically focuses on the needs of homeowners who live in their own residences, landlord insurance provides coverage tailored to the needs of properties occupied by tenants.

What Does It Cover?

Landlord insurance policies can vary in exact capabilities, limitations and other details, but coverage can often include the following financial protections:

• Structures coverage can financially protect against damage to the building itself, as well as common areas, such as lobbies and courtyards.
• Liability coverage may offer financial aid if a tenant, visitor or other third party is injured on your property or their belongings are damaged, and you’re found legally responsible.
• Loss of income coverage may reimburse you for lost rental revenue if your property becomes uninhabitable due to a covered incident, such as a fire or certain types of water damage.
• Landlord personal property coverage can assist with replacement costs if items you leave on the premises, such as common area furniture or maintenance equipment, are stolen or damaged.

How Our Team Supports Landlords

The knowledgeable and experienced team at Express Insurance Services is dedicated to helping landlords in and around Norcross, GA understand their coverage needs and secure ideal insurance policies.

Contact us today to discuss your options and compare personalized quotes.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.