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Rental Property Insurance
Whether you have 1 or 100 properties, we can create a package to fit your needs!
Your property, your investment, your passive income stream.
However you classify it, be sure to
cover your asset.
Although investing in real estate can provide a stable cash flow, it is not immune to calamity.
In a perfect world, tenants would treat your property as their own and there would be no fires or other tragedies.
In reality, people do people things and disaster can strike when you're least suspecting it.
Why spend hard-earned dollars building a solid rental property portfolio without putting proper safeguards in place?
We're here for you.
It's our job to make certain that you know
how your insurance will react and
who will be there for you on your worst day.
We take the time to listen to you and help you find the protection that best fits your needs.
Tips for Having the World's Best Insurance Consultation
Give your agent the "full picture."
Discuss any other property you have, whether its rental, your personal home, or business property.
Make sure the coverage you're requesting is compatible with any existing coverage you have, including other lines of business.
If you have multiple rental properties, find out if placing them all on a single policy would be beneficial
(Not available with all providers).
Discuss any personal property you may have inside your rental property (furniture, appliances, etc).
Not all policies are
While many policies have similar baseline coverages, there are many subtle differences and package options that can make a big difference in the event of a claim.
This is the portion of your policy that covers the actual structure (main house). The amount of coverage can be calculated on a Replacement Cost or Actual Cash Value (ACV) basis, depending on the policy type.
There is a big difference between these two coverage methods, so it's important to know which one is appropriate for you. (For more information on Replacement Cost vs. ACV contact us)
This covers any structure on your property that is not permanently attached to your house (such as fencing, driveways, sidewalks) and detached buildings (such as sheds and garages).
Usually this coverage is 10% of whatever your Dwelling limit is, but it can be increased if you need more coverage. Like the Dwelling, it can be calculated on a Replacement Cost or ACV basis.
This covers all of your personal belongings inside the property such as furniture & appliances. It does not cover your tenant's belongings (that's what renters insurance is for).
Like the Dwelling, it can be calculated on a Replacement cost or ACV basis, but might not be the same as the basis used for the Dwelling.
Not all rental policies contain this coverage, so it's important that you discuss it with your agent.
This reimburses you for fair rental value lost if your property becomes uninhabitable due to a covered loss.
This covers medical expenses for guests if they are injured on your rental property. It does not cover the health care costs for your tenants, you, or other members of your household.
This coverage is very easy to access and exists to help avoid a larger liability situation (x-rays and ER visits are typically less expensive than a lawsuit).
Premises Liability Coverage applies if someone is injured on your rental property. Your liability coverage should be high enough to protect your assets, such as personal property, investment property, savings, and future income, if you are sued.
In some situations, an Umbrella policy may be necessary to provide extra coverage. (For more information on Umbrella policies, contact us)
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