Landlord Insurance

Being a landlord, you have to deal with finding new tenants, making repairs, collecting rent, and a host of other duties on a regular basis. At Credo 1 Solutions, we take some of the weight off of your shoulders, and give you one less thing to worry about with our rental property/landlord insurance. This insurance can protect your property from damages as well as cover lost income as a result of certain damages making your property unlivable.

Basic Landlord Coverage

When a landlord purchases basic landlord coverage, the policy will cover the structure itself when the property becomes damaged by any of the following causes:

  • Storms
  • Fires
  • Malicious acts

Basic landlord insurance also provides liability coverage for anyone that may possibly become injured on the property. This will usually include:

  • Building insurance for damage to the area of rent as well as sheds, garages, fences, and swimming pools.
  • Building coverage also typically includes gardening and other maintenance tools as well as other equipment you use to upkeep the property.

The difference to keep in mind between home insurance for landlords and home insurance is that the landlord does not need to insure personal belongings such as clothes or jewelry. Tenants are responsible for insuring their own items with renters insurance. The only things that you as a landlord need to cover are tools and other equipment that pertain to property maintenance.

Additional Coverage

These are only the basics to think about when you are owning and maintaining a property, but it’s especially important to consider additional coverage if you want to remain a step ahead. Some of these additions can be considered as listed:

  • Coverage for legal fees
  • Workers Comp
  • Coverage for loss of rent
  • Umbrella liability
  • Additional natural disaster coverage

If you plan on renting out any part of your home, call Credo 1 Solutions to get a customized landlord/rental property insurance quote first.

For more information regarding automotive Insurance in Virginia, Maryland, West Virginia, and District of Colombia, call (703) 803-8191 to speak to an insurance agent from Credo 1 Solutions today.