Landlord

Landlord insurance is a type of coverage specifically designed to protect rental properties and the landlords who own them. It typically provides coverage for the physical structure of the rental property, liability protection, and loss of rental income.

When Would I Need a Landlord Policy?

You would need landlord insurance if you own a property that you rent out to tenants. This includes residential properties such as single-family homes, condos, townhouses, and multi-unit apartment buildings. Landlord insurance helps protect landlords from financial losses resulting from damage to the property, liability claims, and loss of rental income due to covered events like fires, storms, or vandalism.

Do You Need Landlord Insurance if You Don’t have a Renter?

Even if you don’t currently have a tenant occupying your rental property, it’s still advisable to have landlord insurance. Vacant properties can still be at risk for damage from events such as vandalism, fire, or weather-related incidents. Landlord insurance provides financial protection for these risks, ensuring that you’re covered even when your property is unoccupied. Additionally, many mortgage lenders require landlords to maintain insurance coverage on their rental properties, regardless of occupancy status. Therefore, having landlord insurance is essential for protecting your investment and complying with lender requirements.

We Can Help

Landlord insurance is essential if you’re a landlord with rental properties. Proper insurance can protect your financial livelihood. Cinco Seguros can help you with your property insurance needs. Call us today to get started.