EUGENE C YATES INSURANCE AGENCY RENTAL PROPERTY INSURANCE: SACRAMENTO CALIFORNIA LANDLORD INSURANCE(QUOTES, COST & COVERAGE)

If you’re planning on being a landlord in Sacramento California it can be very rewarding. This can be in a financial way and also in non monetary ways as well. As a rental property owner you will have many challenges and responsibilities that you never had before. Now you’ll be accountable for the tenants renting your property and yourself. That’s a lot of people! It’s important that you protect yourself and the people that rent from you. 

There is constant maintenance and responsibilities that come with homeownership. Then when you add in the added responsibility of renting a property it can become daunting. There are so many risks that you will need protection from and that doesn’t even have to do with your tenants. In California you have earthquakes, wildfires, flooding and much more to be concerned about. Protecting your prime investment is one of the main factors in becoming a landlord. 

Being a rental property owner is much different than just being a homeowner. There is a whole new set of issues you may run into and should be concerned with. Tenants can cause damage that you were never expecting and it can be life changing or at least detrimental to your financial landscape. 

What Types Of Sacramento California Landlord Insurance Are Available?

When it comes to rental property insurance in Sacramento there are various policies to consider. It really depends on what you need as a landlord and what you need to protect. At Eugene C Yates Insurance Agency we will customize a policy to fit your individual needs and wants. The risks you run into will be determined by the area you live in or where you’re renting your property. Here are some of the most important coverages in Sacramento:

Property Insurance or Building Insurance: This is one of the most basic types of insurance that covers the building and its permanent fixtures. A permanent fixture is generally identified as a physical structure that cannot be removed without inflicting damage to the building. This insurance does not cover non-permanent fixtures, like washing machines. If you have those, you will need a policy that provides a comprehensive coverage.

Contents Insurance or Personal Property Insurance: Contents insurance is aimed at protecting articles that are stored within the apartment building. Items you own such as microwaves, stoves, refrigerators, furniture and laundry washer and dryers that your tenants use could be covered.

Liability Insurance: There are variety of claims that could render you legally liable for damages as the owner of a CA rental property. If a claim is brought against you due to personal injury or damage to the tenant’s belongings caused by your property, most California landlord insurance policies can reimburse you for any legal liability up to your claim limit. You will also be protected for non-injury claims brought by your tenants, including wrongful eviction, wrongful entry, libel, or slander.

Flood Insurance: Commercial flood insurance is a must, if the property is located in a flood-prone area. Often the mortgage company will require it. Flood is a separate policy from your main CA property policy.

Loss of Rent Insurance: We know you depend on your renters’ payments. If your rental property is declared unlivable due to extensive damage, your insurance plan will reimburse you for the cost of the rent your tenants would be paying you while repairs are completed.

What Does Sacramento California Landlord Insurance Cover?

Most Sacramento rental property insurance policies will cover the building or dwelling, the contents used for maintenance and liability. It can also include the following:

• Dwelling: Helps protect the rental building itself due to damage by fire, lightning, wind, hail or other covered losses.
• Other Structures: Helps protect you against damages resulting from a covered loss to your rental property’s detached garage, storage shed or fence.
• Personal Property: If you have lawn mowers, weed whackers, shovels or other tools onsite used to maintain your rental property, California Landlord Insurance may help cover this equipment if it’s damaged or stolen.
• Liability: If a tenant trips on the walkway to your rental property and a court determines that you failed to maintain the walkway, you could be held liable for your tenant’s medical, legal and other costs.Here your landlord liability coverage may help pay for those expenses.

Landlord insurance quote

If you would like a free customer landlord insurance quote and you’re in the Sacramento area, please give us a call today at 916 313 6100