Landlord Insurance
Specialized coverage for rental property owners. Protect your investment property, rental income, and liability.
What is Landlord Insurance?
Landlord insurance (also called rental property or investment property insurance) is designed for property owners who rent out their residential properties. It provides broader coverage than standard homeowners insurance for rental-specific risks.
Critical: Standard homeowners insurance does NOT cover rental properties. You MUST have landlord insurance if you rent out your property.
What Does Landlord Insurance Cover?
Property Damage
Covers the structure of your rental property (building, roof, walls) if damaged by fire, wind, vandalism, or other covered perils.
Similar to dwelling coverage in homeowners insurance
Loss of Rental Income
Replaces lost rental income if your property becomes uninhabitable due to a covered loss. Pays while repairs are being made.
Typically covers 6-12 months of lost rent
Liability Protection
Covers legal fees and damages if a tenant or guest is injured on your property and sues you.
Typical coverage: $300,000-$1,000,000
Fair Rental Value
Covers the rental income you would have received if the property hadn't been damaged, helping cover your mortgage and expenses.
Other Structures
Covers detached structures on your rental property like garages, sheds, fences, or guest houses.
Additional Coverage Options
Building Ordinance Coverage
Covers costs to meet current building codes during repairs
Vandalism Coverage
Enhanced protection against tenant or criminal damage
Umbrella Policy
Extra liability coverage beyond policy limits
Flood/Earthquake
Separate policies for these excluded perils
What's NOT Covered
- ✗ Tenant's personal property (tenants need renters insurance)
- ✗ Normal wear and tear or maintenance issues
- ✗ Tenant damage beyond security deposit (consider landlord protection plans)
- ✗ Bed bugs and pest infestations
- ✗ Flood or earthquake damage (requires separate policies)
- ✗ Intentional damage by you or your tenant
Landlord vs. Homeowners Insurance
| Feature | Landlord Insurance | Homeowners Insurance |
|---|---|---|
| Property Damage | ✓ Covered | ✓ Covered |
| Loss of Rental Income | ✓ Covered | ✗ Not Covered |
| Liability Protection | ✓ Higher Limits | ✓ Standard Limits |
| Tenant-Caused Damage | ✓ Covered | ✗ Not Covered |
| Personal Property | ✗ Not Covered | ✓ Covered |
Cost Factors
Landlord insurance costs 15-25% more than homeowners insurance due to increased risks:
- • Property location and crime rates
- • Property age and condition
- • Number of units (multi-family costs more)
- • Claims history and credit score
- • Deductible amount and coverage limits
- • Type of tenants (long-term vs. short-term rentals)
Average Cost
Annual Premium
$1,500-3,000/year
15-25% more than standard homeowners insurance
What coverage level do you need?
Choose the protection that matches your requirements