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Landlord Insurance

from Gilliland Insurance Group

Landlord Insurance

If you are a landlord, you probably derive a good portion, if not all of your income, from your rental properties. Therefore, it’s essential to protect your investment with the right landlord insurance in case of fire, natural disasters, vandalism, and theft.

A regular homeowner insurance policy is not sufficient if you’re a landlord. You can purchase a specialized landlord insurance policy, whether you rent out one house or a whole apartment building.

A landlord insurance policy protects you if your property is damaged and needs to be repaired, which could otherwise mean a loss of income and significant out-of-pocket expenses for you. It also protects you if someone has an injury on your property and wins a legal judgment against you. You won’t lose your property or have your personal assets attached to pay damages.

In addition to the usual protection from fire, vandalism, hail, and similar causes of damage, a landlord insurance policy can cover you in the event a tenant leaves your property uninhabitable, which is more than what a typical security deposit covers.

Other situations your landlord policy could cover include:

  • Wrongful eviction: when a tenant sues over an eviction
  • Wrongful entry: if you enter a tenant’s unit without the proper permission
  • Libel or slander: written or spoken defamation of a tenant

Many landlords elect to add an umbrella policy to their regular landlord policy. This offers extra liability coverage, such as if one of your tenants’ dogs bites another tenant or a delivery person.

Your rental property is your business, so you need to treat it like one with the right protections. Call us at 904-824-9877 today, to inquire about the right coverage for your property.

At Gilliland Insurance Group, we’re not just insurance salespeople; we’re insurance educators who want to make sure you understand your policy. We ask about all your unique needs and make sure you have a policy that’s tailored to you. With hundreds of insurance products available to us as independent agents, we’re sure to have the right combination for you.