Landlords Policy

Owning and renting out a property can be a smart investment.  With a landlord policy, you’ll get protection from sudden and accidental losses and the bills that come with them, including the possible loss of rent and even the cost of rebuilding your property if there’s damage from a natural disaster. 

Coverages

A Landlord Package Policy typically covers a range of perils, including the following:

• Fire and smoke
• Windstorm or hail
• Falling objects
• Water damage from plumbing, water heater or burst pipes (except sump pumps)

Dwelling protection
Covers the rental property your tenants live in and other structures attached to it such as a garage, porch or deck.

Other Structures
Covers stand-alone garages, sheds and other buildings that are separate from your rental property.

Liability
Covers you if you're sued after an accident, damage or loss related to your property. For example, you might have a lawsuit on your hands if your tenant injures himself on broken stairs in your rental.

Fair Rental Income
Helps pay the rental income you would otherwise lose if your rental becomes uninhabitable due to a covered loss and your tenants have to move out. You can keep the money coming in for up to 12 months while the unit is being repaired or rebuilt.

Premises Medical Protection
This type of coverage can help pay for reasonable and necessary medical expenses if a guest is injured in an accident on your rental property.

Optional Coverages

Vandalism
Covers costs to repair or replace damaged items if your rental is vandalized, as well as belongings used for the rental property. This coverage only applies if the dwelling has not been vacant or unoccupied for more than 90 consecutive days.

Burglary
In the event of a burglary, this covers costs for any repairs or replacements needed, in addition to belongings used for your rental property. This coverage only applies if the dwelling has not been vacant or unoccupied for more than 90 consecutive days and there is sign of visible forced entry.

Property Under Construction
If you’re renovating or building a new rental property, this covers the dwelling before it’s occupied.

Building Codes Coverage
This helps cover increased costs related to fixes needed after a covered loss, such as enforcing any building codes, ordinances or laws regulating construction, reconstruction, maintenance, repair or demolition of your rental property.