Landlord Insurance

What is landlord insurance?

If you rent out a property—standard homeowners insurance may not fully protect you. Landlord insurance provides coverage tailored to rental activity, giving you peace of mind and financial protection.

Why occupancy matters

How a property is occupied plays a major role in how it should be insured. Insurance carriers assess risk differently depending on whether a property is owner-occupied, tenant-occupied, vacant, or used occasionally.

  • Tenant-occupied properties are typically eligible for landlord insurance policies.

  • Owner-occupied or part-time use may not qualify and might require a different type of policy.

  • Vacant properties may carry higher risks and need special coverage during unoccupied periods.

Clearly identifying how the property is used helps ensure the policy is valid and provides the protection intended.

What’s typically covered?

A standard landlord insurance policy generally includes:

  • Dwelling Coverage
    Protects the physical structure of your rental property.

  • Other Structures
    Coverage for garages, sheds, or fences on the premises.

  • Landlord-Furnished Property
    Includes items like appliances or furniture (be sure to disclose if the unit is furnished).

  • Loss of Rental Income
    Reimburses lost income if the property becomes uninhabitable due to a covered claim.

  • Liability Protection
    Covers legal or medical costs if someone is injured on the property.

Common covered perils include:

  • Fire and lightning

  • Windstorms

  • Vandalism and theft

  • Smoke damage

  • Falling objects

  • Vehicle or aircraft damage

  • Explosions

What’s not covered?

Landlord insurance typically does not cover:

  • Routine maintenance or wear and tear

  • Damage caused by floods or earthquakes (these require separate policies)

  • Owner-occupied property, unless specifically endorsed

  • Tenants’ belongings (tenants should secure their own renters insurance)

Bonus Tip:
Tenants are responsible for protecting their personal belongings and liability. Requiring renters insurance in your lease is a smart move—it helps protect tenants' personal property, covers temporary housing, and provides liability coverage if they accidentally cause damage or injury.

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