Rental Property Insurance: Landlord Insurance Sacramento

Landlord insurance, or what some call rental property insurance is designed to cover the risks associated with renting out property or a home. Landlord insurance includes liability coverage, dwelling coverage, and loss of rental income. Rental property insurance is a must have for all landlords planning on renting out a house, condo, apartment building, duplex, triplex or even a room in your primary residence. It’s a safeguard against tenant damage.

What does rental property insurance cover?

Landlord insurance coverage will be different from insurance provider to insurance provider. Although, most will cover the contents of the home owned by the landlord, the dwelling of the property, liability coverage and loss of income. Homeowners insurance is very similar to landlord insurance, but rental property insurance coverage does cover risks that are more geared toward protecting a landlord from tenant risks. 

Dwelling coverage: Landlord insurance

Rental property insurance will help to cover physical damage to the dwelling. Which means if there is damage to the structure of the home, then this portion of your coverage may cover the fees. This part of your rental property insurance coverage will only kick in if the damage is caused by a covered peril. 

Coverage for the landlord’s personal property

Landlord insurance will not cover the property owned by your tenants but it will cover the landlords property used to maintain the home. Please keep in mind if you leave personal items behind, they may not be covered. What’s covered may be appliances, machines used in the home, washing machines, dryers, and other items used to service the home. 

Liability coverage in Landlord Insurance

The liability coverage in your landlord insurance will help to protect you from legal and medical claims if someone is hurt or injured on your property or sues you. If one of your tenants is hurt on your property and you are the responsible party there is a good chance landlord insurance will cover you. 

Loss of rental income coverage

The loss of rental insurance portion of your landlord insurance will help to reimburse you for lost rental income. If the home is uninhabitable and your tenant can not use the home is usually when this portion of your coverage kicks in. 

Optional rental property insurance endorsements

• Vandalism coverage: This usually covers deliberate physical damage to the home. Allstate is an example of an insurer that does not cover vandalism with its rental house insurance but offers it as an endorsement.
• Ordinance or law coverage: This covers a loss of value or costs associated with enforcing local laws surrounding the repair of property caused by an insured loss.

Landlord insurance quote

If you would like a custom landlord insurance quote or have additional questions regarding rental property insurance please feel free to contact one of our wonderful agents at 916 313 6100