Landlord Insurance 101: What Does It Cover?

Landlord Insurance 101: What Does It Cover?

Landlords: Do you know exactly what your landlord insurance covers? Knowing may help you avoid any conflict with a tenant and insurance company, should an accident occur. 

If you are a landlord, you need landlord insurance to protect your property from any covered damages. If you are just getting into the game, here are a few things you need to know regarding landlord insurance and what it covers.

What is Landlord Insurance?

Landlord insurance gives you the coverage you need when you own property and rent out one or more residential homes, condos, or apartments. As a landlord, you need insurance to protect you from risks like fires, severe weather, burglary, and other disasters. This insurance can help cover financial losses if your residence becomes uninhabitable.

What Does Landlord Insurance Cover?

  • Liability Insurance – Should a guest injure themselves on your property, you will likely be held liable for the medical expenses incurred by the injury.
  • Property Damage – Covers the damage to your buildings due to a fire, theft, storm, vandalism, or tenant damage.
  • Loss of Income – This insurance coverage can help compensate you if your building becomes uninhabitable due to a covered loss like a storm, fire, or severe vandalism. This coverage can help you from losing any rental income you would have had if not for the damages.
  • Optional Coverage – You can purchase additional coverage on top of what you have already that covers things like rent guarantee insurance, employer liability, and landlord contents to cover your personal property.

When you own property that you rent out, know that the proper landlord insurance will cover your property from covered disasters. Contact Lloyd S. Berkett Insurance Agency worldwide for all of your insurance inquiries and needs.

11150 W. Olympic Blvd.
Suite 1100
Los Angeles, CA 90064

(310) 857-5757
(800) BERKETT | 237-5388
Fax: (310) 857-5750

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The Lloyd S. Berkett Insurance Agency, Inc. was founded in 1946 by Lloyd S. Berkett. Regarded as one of Southern California’s most successful, well-respected and innovative independent insurance agencies, ... Read More

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