LANDLORD Insurance Policy
Millions of Americans live in rental properties, and they have to deal with an assortment of landlord issues. Alternatively, the landlords who own those properties face their own challenges, some of which can be downright ugly. One way landlords can find some security in an insecure world is with landlord insurance.
Landlords usually can't constantly monitor their properties, and may have to consider some unanswered questions. Was one of their apartment buildings constructed on an earthquake fault? Is this going to be a bad year for hurricanes? Does the property rest in a flood basin? Will the hill behind the house flare up during the wildfire season? Landlord insurance can help owners rest a bit easier by helping to cover the costs of these and other disasters. It can also cover the cost of repairing or rebuilding the main building and related structures.
What about the renters themselves? Are they trustworthy or are there some felons among the tenants? Do they party too hard, disturbing other tenants and possibly setting the stage for a conflict? Is one tenant a smoker who may one night burn down the place? Who knows! A landlord policy can provide protection from fires and other types of accidents, and even from acts of vandalism and terrorism.
One of the most important elements of any policy is liability coverage. This can protect the landlord in the event that a tenant or guest falls down the stairs or stumbles into the pool. Policies can also be designed to cover items belonging to the landlord that are inside the property, including furnishings.