There are many different clauses in landlord insurance, and it’s important to make sure you have the right coverage for your property. Clauses can range from dwelling coverage, water/flood coverage, fair rental income protection, and more. Synergy will work with your specific needs and ensure you have the perfect coverage for your investment property.
Landlord insurance provides several important types of coverage. Coverage options can include:
- Property damage: This covers damage to your buildings and personal property due to fire, storm damage, theft, and vandalism.
- Liability insurance: Liability insurance protects you against liability claims and lawsuits. This will help you cover the costs associated with bodily injury claims on your property, including medical payments, funeral costs, legal fees and more. You will also be covered if you, as the landlord, are found responsible for another person’s property damage.
- Loss of income: This insurance will help compensate you for lost income in the event that a rental property becomes uninhabitable due to a covered loss, such as a storm or apartment fire.
Landlord Protection liability coverage also protects you and your spouse against personal injury, wrongful eviction, or wrongful entry as well as other non-bodily injury claims such as libel and slander.
Many landlords supplement their coverage with personal umbrella liability insurance for extra protection. Call Synergy today and let us help you find the right coverage for your rental property.