Can I Get Landlord Insurance on a Mortgaged Property?

Yes, you can rent out your home and get landlord insurance while keeping your original home mortgage unchanged, as long as you have met your mortgage lender’s 12-month residency requirement. It’s fairly common for mom-and-pop real estate investors to buy a new home with a residential mortgage, live in it for at least one year, […]

Does Landlord Insurance Cover Tenant Damage to Your Rental Property?

The short answer is it depends. We recommend requiring renters insurance from your tenants to increase your protection. If your tenant damages your rental property, your landlord insurance may cover the loss, but it depends on the type of damage and your coverages. Insurance companies categorize damage from tenants in three different ways: ‍ Accidental […]

What Types of Claims Does Landlord Insurance Cover, and What Types of Claims Does it Not?

Before answering what it doesn’t cover, it’s best to understand what it covers. That way, the differences are clear. Landlord insurance covers damage to the building and gives liability protection if the landlord is sued. It excludes maintenance and equipment breakdowns and damage to a tenant’s personal possessions. People who own properties and rent them […]

Does Landlord Insurance Cover Flooding and Water Damage?

Yes, landlord insurance does cover water damage, with some caveats. According to the Insurance Information Institute, water damage is one of the most common –and most expensive– claims that cost billions for homeowners and landlords every year. The best way you can protect yourself from this type of damage is to make sure you have the […]

Does Landlord Insurance Pay for Stolen Property and Vandalism?

Unlike homeowners insurance, landlord insurance companies only cover vandalism if it has been added as additional coverage to an insurance policy. You will want to consider if vandalism is a risk for your property depending on the neighborhood, geographic area, and crime rate of the area, and if so, make sure that you add insurance […]