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Rental Property Insurance

Rental Property Insurance

Many Americans own investment properties in addition to their primary homestead, and it is important to protect these investments against perils that may wreck havoc on a home. At ATAB Insurance Services, we have access to rental property insurance markets in Texas and California and will carefully assess your property's characteristics to build a policy that properly protects your investment against potential damage.

Rental property insurance is normally written under what is called a Dwelling Fire policy. Rental property insurance protects homes against damages resulting from weather-related causes, fire, vandalism, burglaries, inconsiderate tenants, and other named perils. Rental property insurance differs from a homeowners policy in that the property owner must be a resident of the property to qualify for the coverages under a homeowners insurance policy. Also, in the same way that flood insurance is not covered under a homeowners policy, it does not automatically extend to a rental property insurance policy either, and must be purchased separately. 

 

Basic Rental Property Insurance Coverages: 

  • Dwelling Coverage - covers damages to the structure of the home caused by a covered peril. Coverage also extends to an attached garage. 
  • Personal Property - provides coverage to personal property belonging to the landlord inside the home, if caused by a covered peril. This may include large appliances that you furnished the home with prior to renting it out to a tenant. This coverage is optional, and the amount insured is far less than a homeowners policy, as it is assumed that very few items owned by the landlord are kept in the home. 
  • Other Structures - covers damages to structures that are not attached to the main frame of the house. These may include, but are not limited to: detached garages, sheds, doghouses, outdoor bathrooms, and other detached structures. 
  • Personal Liability  - covers costs in the event that an individual is injured or suffers a loss to their personal property while they are on the premises. For additional liability coverage, you may also purchase a personal umbrella policy
  • Loss of Rents - covers you for loss of rental income in the event the home is unlivable and the tenant has to move out. 
  • Medical Payments - covers medical costs related to injuries sustained by individuals while they are on the property. 

 or Contact Us today for more information on rental property insurance. 

 

 

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