Insurance for Rental Property Owners
A standard homeowner's policy does not cover a property being rented to tenants. Landlord insurance — also called a dwelling fire or rental property policy — is designed specifically for income-producing properties. Whether you own one rental home or a portfolio of multi-unit properties, the right coverage protects your investment, your rental income, and your liability exposure as a property owner.
Key Coverages for Landlords
- Dwelling Coverage - Covers the structure of your rental property against covered perils including fire, wind, hail, vandalism, and more. Coverage is based on replacement cost, not market value.
- Liability Coverage - Covers you if a tenant or visitor is injured on your property and sues you for damages. This includes legal defense costs and settlements.
- Loss of Rents - Covers lost rental income if a covered loss makes your property uninhabitable during repairs. This keeps your cash flow intact while the property is being restored.
- Other Structures - Covers detached garages, fences, sheds, and other structures on the property.
- Umbrella Liability - Extends your liability limits beyond the base policy — important for landlords with multiple properties or higher-value rentals.
Your Homeowner's Policy Does Not Cover Rentals
Many landlords make the mistake of assuming their existing homeowner's or dwelling policy covers a property once tenants move in. Most standard homeowner's policies exclude coverage when the property is regularly rented to others. We review your current coverage and make sure each property in your portfolio is properly insured under the right policy type.
Frequently Asked Questions
Do I need separate policies for each rental property?
Properties can often be scheduled on a single landlord policy or a commercial property policy for portfolios. We evaluate your specific situation to find the most cost-effective structure for your portfolio size.
Does landlord insurance cover my tenants' belongings?
No. Landlord insurance covers the building and your liability — not the personal property of your tenants. Tenants should carry their own renters insurance. Some landlords make renters insurance a lease requirement.