6332 S Rainbow Blvd. #100 Las Vegas, NV 89118, USA
Your insurance needs are unique when you are responsible for multi-family housing units. You can’t just obtain a typical homeowner’s policy and expect it to provide for your comprehensive needs when it comes to safeguarding your assets, obtaining proper liability protection, and protecting against losses in rental income. What you need is known as landlord insurance, a type of business policy designed specifically for the needs of rental properties and their owners.
Designed for real estate owners who possess one or more rental properties, landlord insurance protects your investment property against certain types of financial losses that are commonly associated with rental units. In particularly, it helps to protect rental property owners from losses incurred when a property becomes unusable for a period of time.
Most standard policies for landlords offer protection in each of the following types of situations:
Typically, this type of policy covers your rental property for damage that occurs due to each of the following circumstances:
The exact type of coverage/compensation that you are entitled to as a landlord depends on the exact terms of your insurance policy. It is important to understand exactly what you are covered for in order to determine whether or not a policy offers you enough protection as a rental property owner.
Each of the following types of coverage is available when they are included in your policy and paid for by your premium:
In most cases, the following types of protection are not offered without the benefit of an umbrella policy: