One of the most important things you can do to protect yourself as a landlord, is to make sure that you have the right insurance coverage! If you purchased an investment property, your regular type home insurance policy is not he correct coverage to have in place. When there is a tenant living in your investment property, you need a tenant policy, which is also known as a DP3 or DP1.
These policies are tailored to rental properties, and will cover your investment in the case of a loss. They provide coverage for the structure, the correct type of liability coverage you would need as the landlord, and can even cover loss of rental income, in the case of a covered loss.
Do you own several rental properties? We offer unique coverage that can cover several properties under one single policy. This makes it easy to manage the hassle of insurance paperwork and payments on multiple properties. If you have questions regarding what type of insurance you need on your property, please give us a call… One of our agents would be glad to help.
