Landlord liability insurance: what you need to know

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Information Needed for Accurate Landlord Quotes

  To get rental insurance premium quotes tailored to your needs, be sure to provide your Custom Property Agent with the following information:
 

  • The address of all rental property you want to insure
  • Date of purchase and purchase price for the property
  • A list of upgrades and improvements
  • Details of any current or recent rental property insurance policies and your claims history record
  • A list of all safety and security measures you have in place, including burglar alarms, motion sensors, fire sprinkler systems and security gates
     

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Tips for getting the best Landlord Insurance Quotes

  • Make sure you know your current rental property values.
  • Give your agent a copy of your standard lease agreement      that outlines tenant responsibilities and duties.
  • Ask for a list of all available coverage to choose from, including loss of income, windstorm and flood insurance coverage, and umbrella liability insurance.
  • List all additional structures on the property, such as garage, laundry facilities, and storage buildings.
  • Provide a complete list of any athletic equipment that could pose risks to patrons or visitors, including gym facilities, swimming pools, spas, golf courses or sport courts.
  • Discuss coverage needed for your employees, such as,  grounds maintenance workers and office staff.

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How to Prepare for Rental Liability Claims

 If you have invested in one or more properties for rental income, that investment inevitably  comes with questions, concerns and risks. What can go wrong? What events can have a negative effect on your rental revenue? What if a water main breaks and floods your rental property? What if someone gets hurt on the premises and files a lawsuit? Several different types of coverage come into play to cover the different risks you face as a landlord. Please visit our FAQs page for answers to all of your burning questions.


For immediate assistance, contact us to speak with an Trusted Choice® independent agent.