Regardless of whether you own one investment property or hundreds of rental units, ensuring that you – and your investments – are properly covered in case of a loss is a necessity. While you may have home owner’s coverage, though, this won’t necessarily provide you with all of the protection that you may need. That’s why it’s essential that you consider landlord insurance.
This is a type of insurance policy that provides coverage for you, the property owner, in case of losses that are connected with your rental property. These policies cover the building structure – and most landlord insurance plans will also offer the option of securing coverage for contents inside the building that belongs to you.
Perils that are typically covered with a landlord insurance policy include:
- Storm damage
- Flood damage
These types of policies will also generally cover malicious damage and theft (either initiated by the tenant or by an outside source).
Because all landlord insurance policies can differ, it is important that you compare several options – as well as several premium quotes – so that you are getting the protection that is best for you and your specific needs.
Keeping tabs on the safety of your real estate investments can be time consuming. This is particularly the case if you reside far away from the property(ies). With that in mind, one of the best ways to ensure that your rentals are running smoothly and that the rent is being collected on a regular basis is to hire a professional property management team.
If you own rental real estate in the Naples, Florida, and / or surrounding vicinity, let Benoit Management take on all of the day-to-day duties of managing your property. For more details on our services, Contact Us today.