Rental Property Insurance

Owning a rental property can be a lucrative venture that offers financial stability and growth. But as with most opportunities, you must account for the risks involved. Rental property insurance, or landlord insurance, is designed to help property owners with the unique risks of leasing real estate.

What Does Rental Property Insurance Cover?

The following are core coverages of rental property insurance:

• Property coverage—This helps cover the physical structure if it’s damaged due to events such as fire, storms, vandalism, or other covered perils.
• Liability protection—This helps cover legal expenses and medical bills if a tenant or visitor is injured on the property and the landlord is deemed at-fault.
• Loss of rental income—This helps reimburse lost rent if the property becomes uninhabitable due to a covered event, such as a fire or flood.

You may also be able to purchase add-ons to enhance your financial protection. Speak with your insurer about specific coverages you may need.

Why Do I Need Rental Property Insurance?

Standard homeowners insurance doesn’t cover rental activities, and landlords could face significant out-of-pocket costs or repairs and lawsuits. Rental property insurance can help offer peace of mind while you manage tenants and maintain the property.

Contact Us

The team at Arches Insurance in Pleasant Grove, UT can help review your rental property and insurance needs. Contact us today for a personalized quote or more information.