This coverage helps pay to repair your rented home, condo or apartment if it’s damaged by fire, lightning, wind, hail or other covered losses.
- Other structures
This part of your policy helps pay to repair detached structures on your rental property, such as a detached garage or fence if they’re damaged by a covered loss.
- Personal property used to service the rental If you leave a lawnmower or snow blower onsite to maintain your rental property, landlord insurance may help cover this equipment if it’s damaged. However, if you leave your personal bike or DVD player at the home you rent out, it likely won’t be covered under your landlord policy.
All of the above types of coverage are subject to the deductibles and limits stated in your specific Rental Property policy. Your deductible is the amount you’ll pay for a covered loss before your landlord insurance kicks in.
The liability portion of a Rental Property insurance policy may help you pay for another person’s medical bills or your legal expenses if someone else is injured on your rental property and you’re found responsible.
Extra Rental Property coverages to consider
Depending on the neighborhood, geographic area or condition of your rental, you may want to consider adding on some optional coverages to your landlord policy. These coverages may include:
- Rental property under construction
- Building codes