Even if you are the most careful of landlords, there may still be scenarios in which landlord insurance may come in handy.
According to a report, more than 500 people become a landlord in the U.S. every single day. If you decide to rent a home or apartment, you are likely a candidate for landlord insurance. This kind of coverage typically includes two different types of coverage: property and liability protection. Here are the ways that landlord insurance may help protect you and your rented property.
- Dwelling – This type of coverage protects your property from damage by fire, lightning, wind, hail, or other covered loss. Additionally, dwelling coverage extends its protection to structures that are connected to the house, such as the garage.
- Other structures – This piece of your policy helps protect your other unattached structures such as fences, a stand-alone shed, or trash enclosure if they become damaged.
- Personal property – If you leave a lawnmower or snow blower on site to maintain your property, and it’s damaged or stolen, it may be covered.
Landlord Liability Protection
This may help pay for another person’s medical bills or your legal expenses if someone else is injured on your rental property, and you’re found liable.
You’re going to need the right landlord insurance to have you covered. Contact the independent insurance professionals Perry & Carroll in Elmira, New York for all of your insurance coverage needs this season.