You need to feel confident that all you've worked for is protected. A Rental Property Insurance policy will protect your investment property, as well as your rental income if there is a covered loss. As a property owner, you need insurance that’s tailored specifically to protect your rental properties. Whether you own one rental property or several, creating the right Rental Property Insurance policy plays an important role in repairing damages or rebuilding the property and maintaining rental revenue.

How Do I Determine The Right Rental Property Coverage?

Rental Property is a great investment, especially if you protect it with the right insurance coverage. A Rental Property Insurance policy is very similar to a homeowner’s insurance policy. The major differences are:

• A Rental Property Insurance policy has a different type of liability coverage. It covers risk associated with tenant-occupied dwellings.
• A Rental Property Insurance policy usually has a lot less coverage for personal property then a homeowner’s policy. Mainly, because you will have minimal belongings on the premises. However, it is important to make sure this coverage is adequate, if you do keep a lot of your belongings on the property.
• Other than these two major differences, make sure that you have enough coverage to rebuild the property and have all the necessary endorsements that will protect you in other losses. Review the homeowner’s section for a better understanding of these endorsements.