This is one of the most essential coverages for any real estate investor. Property insurance protects you against damage to the building caused by fire, storms, vandalism, and other perils. If your property is damaged and you can’t rent it out, this coverage also helps replace lost rental income.
Landlord insurance is designed specifically for property owners who rent out residential or commercial properties. It typically covers:
-Property damage to your rental unit or building
-Liability in case a tenant or visitor is injured on your property
-Loss of rental income due to covered events like fires or floods
An umbrella insurance policy provides additional coverage beyond the limits of your other insurance policies. If you’re a real estate investor with multiple properties, this type of policy can help protect your assets in case of larger claims.
While not required for the property owner, it's a good idea to encourage your tenants to carry renters' insurance. This protects their personal belongings and shields you from liability if something happens inside their rented unit.
If your property is located in a flood zone or near water, flood insurance is critical. Standard property insurance typically does not cover flooding, so this is something you’ll need to purchase separately.
Whether you’re just getting started in real estate or managing a large portfolio, having the right insurance can help protect your investments and mitigate risks. Reach out today to ensure your real estate assets are fully covered.
Contact us today for a customized real estate insurance quote and protect your investments with the right coverage.
