A regular homeowner’s policy will not adequately cover your property or provide you with the proper liability coverage you need if you own a habitational dwelling that you rent to others. Because you don’t occupy the structure, the homeowner policy clauses covering ‘you,’ the insured, won’t apply. It is the landlord’s responsibility to protect the building against fire and other damage, as well as unattached property that belongs to you and is furnished for the tenants’ use. Your policy does not cover the property belonging to the tenants. That’s their responsibility.

It’s a good idea to require tenants to purchase renters' insurance, making them responsible for any damage they may cause to your building or for losses originating on your property that spread to others. This requirement serves as a first line of defense against lawsuits from neighboring properties. No one wants to be left homeless because they can’t pay you rent for a property they can’t occupy until it gets fixed. We can even name you in their policy to ensure it stays in force and has the liability you require. The company will notify you of a policy cancellation.

Talk to us about your options. We tailor policies meant for owners of rental property.