Your rental property is more than just a way to generate extra income. It's an investment in your future. Guard your assets and mitigate the potential for financial losses with landlord insurance. Landlord insurance protects property owners who lease out single-family homes, duplexes, triplexes, and fourplexes against financial losses resulting from damage to the residence. Coverage can also extend to surrounding permanent structures on the property such as a shed or garage.
What Landlord Insurance Covers
A landlord insurance policy helps cover costs to repair your rental if it is damaged by fire, lightning, wind, hail or any other covered losses. Along with safeguarding your property, landlord insurance includes premises liability protection that covers you in the event someone gets injured on your property and you are held legally liable for the injury.
If your tenant falls down the steps at your rental house and a court finds you failed to maintain the stairs or repair a broken railing, you could be held legally responsible for your tenant's medical and legal costs. Landlord premises liability coverage may help pay for those expenses.
Fair rental value coverage provides for lost rental income while your rental property is being repaired as a result of a covered loss.
Personal property coverage is also available to protect any household furnishings and appliances owned by you that are damaged in a covered loss. If you provide a refrigerator, washer and/or dryer for your tenant and those appliances are damaged in a covered loss, they can be repaired or replaced subject only to your deductible and policy limit.
As local, independent agents, we work for YOU, finding you the best possible rate for the right coverage. As authorized agents of Insurance Professionals of Arizona, we compare dozens of companies to find you the best options for home, auto, business and life insurance in many states. We're proud to work only with A-rated carriers so our clients can expect outstanding financial strength and superior claims service to help protect what they value most. And with over 6 decades of combined experience, you can count on the most informed advice and stellar service!