Archive for 'Landlord Insurance'
Why Should I Buy Landlord Insurance?
December 14th, 2009. Published under Business, Landlord Insurance, Renters Insurance, Small Business Owner, blogs. No Comments.
Whether you own a single family home or a duplex, you need to insure the property differently than you would an owner occupied home.
A Landlord policy insures the structure, usually includes a minimal amount of personal property coverage, (covering a lawn mower, ladder, or maybe a snow blower you may leave for the tenant to use), and liability coverage. As the owner of the home/duplex/triplex,etc. you may be sued for negligence .
Personal Liability coverage pays for legal services in case you are sued.
To protect your assets, liability insurance is very important.
Make sure your insurance carrier is aware of a vacant home as that can affect how your policy is written. Liability coverage may be difficult to obtain or be priced higher.
Landlord Insurance is fairly easy to purchase. If you have a property with frequent claims, you will need to buy coverage on the standard market. Call your personal insurance agent for information.
RENEE DARATA
