For rookie landlords, it's a common mistake to think that your homeowner insurance will cover costs in the event of disasters and accidents. But no, home insurance won’t cover those things for rent-out properties. So you might wonder, how will you protect your two-story apartment, and what type of insurance do you need? Here’s a guide for starter landlords about Landlord’s Insurance, its importance, and how to choose the best insurance for you and your properties.
Landlord Insurance Overview
Landlord Insurance is a type of insurance that covers rent-out properties. Its main purpose is to protect you from financial loss accredited to your properties. This insurance has three core coverages are:
Guide in Choosing the Right Package
Here is a guide so you can choose what’s best for you and your property:
Assuming that Homeowners Insurance will cover your rent-out properties is a usual mistake for a new landlord. That’s why Landlord Insurance is essential, and it is crucial to understand it well. You might also want to learn and recommend Renter’s Insurance to protect your tenants’ personal property safety.
At Mauser & Tobin Co., Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (516) 747-0171. Get your free quote today by CLICKING HERE.
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