What is rental property insurance?

Renting out property can be a lucrative business, especially if you own several properties. While residents have certain responsibilities, it is the landlord’s job to protect the property. Rental property insurance covers buildings, fences, sheds and liability risks. Think of this coverage as a blanket that falls over the residents’ renters insurance. With both policies in force, you and your tenants are protected from various financial risks.

What can rental property insurance do for you?

Even though you may not live in your rental properties, you still need to provide a safe environment for your tenants. While rental fees cover regular maintenance, you may face larger restoration costs after a fire or severe storm. Rental property insurance can help pay for those repair bills.

Purchasing rental properties is a big investment. Like any business it is important to protect that investment from unforeseen events.

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