Landlord Insurance: Protect Your Rental Property & Investment
Owning a rental property is a great investment, but it comes with risks—from property damage to liability claims. Landlord insurance is designed to protect your rental home, duplex, condo, or multi-unit property from unforeseen events like fire, natural disasters, tenant damage, and loss of rental income. At ASR Insurance Legacy, we provide comprehensive landlord insurance policies tailored to safeguard your property and financial future.
Why Landlord Insurance is Essential
Standard homeowners insurance does not cover rental properties. If you’re renting out a home, condo, or apartment, you need specialized coverage to protect your investment and shield you from liability risks.
✅ Property Protection – Covers your rental unit, detached structures, and landlord-owned appliances.
✅ Liability Coverage – Protects against lawsuits if a tenant or visitor gets injured on your property.
✅ Loss of Rental Income – Pays you if a covered event makes your property uninhabitable.
✅ Tenant-Related Risks – Covers damages caused by tenants, vandalism, or theft.
What Does Landlord Insurance Cover?
Our comprehensive policies provide protection beyond standard homeowners insurance, ensuring you are covered in case of property damage, legal issues, or income loss.
1. Dwelling Coverage
Protects the structure of your rental property, including walls, roof, and foundation, against risks like:
✔ Fire and smoke damage
✔ Wind and hailstorms
✔ Lightning strikes
✔ Vandalism and theft
✔ Burst pipes and water damage
2. Other Structures Coverage
If your rental includes detached structures like a garage, shed, or fence, they’re also covered under your policy.
3. Landlord Liability Insurance
If a tenant or visitor is injured on your property and you are found liable, this coverage helps pay for:
✔ Medical expenses
✔ Legal fees and court costs
✔ Settlements and judgments
Example: If a tenant slips and falls due to a loose railing, your liability coverage can help protect you from costly lawsuits.
4. Loss of Rental Income Coverage
If your property becomes uninhabitable due to a covered event, this coverage helps replace lost rental income until repairs are completed.
Example: If a fire damages the rental home and your tenants must vacate, this policy ensures you still receive rental payments.
5. Landlord-Owned Personal Property
If you provide appliances, furniture, or fixtures in your rental unit, this coverage protects them from damage or theft.
Optional Add-Ons for Extra Protection
🔹 Tenant Damage Protection – Covers damage caused by tenants beyond normal wear and tear.
🔹 Flood Insurance – Protects against flood damage, which is not covered under standard landlord insurance.
🔹 Earthquake Coverage – Provides protection if your rental is in an earthquake-prone area.
🔹 Umbrella Liability Insurance – Additional protection if liability claims exceed your policy limits.
🔹 Short-Term Rental Coverage – Ideal for Airbnb or vacation rental properties.
Who Needs Landlord Insurance?
📍 Single-family home landlords – If you rent out a house, you need coverage beyond standard homeowners insurance.
📍 Multi-unit property owners – Protect your duplex, triplex, or multi-family rental property.
📍 Condo landlords – If you rent out a condo, landlord insurance covers what the HOA policy doesn’t.
📍 Vacation rental owners – Short-term rentals (e.g., Airbnb) require specialized coverage.
📍 Real estate investors – Protect your long-term and short-term rental properties.
If you rent out any type of residential property, landlord insurance is a must-have to avoid unexpected financial losses.
How Much Landlord Insurance Do You Need?
Your coverage needs depend on factors like:
📌 Property value – Ensure you have enough dwelling coverage to fully rebuild after a total loss.
📌 Rental income – Loss of rental income protection should match your expected rental earnings.
📌 Liability risks – The more units you rent, the greater your need for higher liability limits.
📌 Tenant profile – Renting to long-term tenants differs from short-term or vacation rentals.
Our team will help you customize a landlord insurance policy that fits your investment strategy and budget.
Get a Free Landlord Insurance Quote Today!
Protect your rental property and financial future with comprehensive landlord insurance from ASR Insurance Legacy. Our expert agents will help you find the right coverage at the best rate.