Landlord
Landlord Insurance
Protect Your Rental Properties with Landlord Insurance
Rental property investments should be protected with Landlord Insurance coverage designed for rental property owners.
Hazard Insurance, Rental Home Insurance, Landlord Insurance and Dwelling Fire Insurance all refer to this valuable insurance policy designed for 1 – 4 unit residential tenant-occupied dwellings.
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"We inherited 2 rental homes after my parents passed away, we live in a Condo and I had no idea about insurance. As soon as we got a quote, I asked a ton of questions and we were insured the same day! The homes were older and I'm glad we were still able to get insurance. Thanks for the patience and answering all my questions!"
Kathy Matsumo
Landlord Insurance
Landlord Insurance is generally meant to protect one to four unit rental properties; this would be inclusive of apartments, condominiums, and single or multi-family homes that you own and rent to others.
Insurance and Real Estate works similarly; Residential Property is comprised of 1 – 4 unit dwellings; Commercial Property would include any residential building of 5 or more units.
Coverage Details
A Landlord Insurance Policy will help protect you financially from damages or injuries related to your insured rental property. Landlord Insurance Policies are designed for free standing 1 -4 unit dwellings; if you own and rent out a Condo or Townhome Unit, you would purchase an HO-6 or Unit Owner’s Policy instead.
- Dwelling - Coverage that protects the structure of the home
- Other Structures - Coverage for sheds, detached garages and other structures not attached to the main dwelling
- Loss of Use - Coverage for the loss of rental income by providing the fair rental value of the property if uninhabitable while it is being repaired due to a covered loss.
- Premises Liability - Coverage for liability protection against losses which may occur involving bodily injury or property damage on the premises.
Types of Hazard Insurance
- Rental property insurance and Landlord insurance are actually the same thing; they are both also known as Hazard Insurance by mortgage companies and simply Home Insurance by many property owners.
- Although you can name the policy whatever you’d like, it is important to differentiate the coverage offered by the actual policy as a Rental Home risk is quite different to an Owner Occupied Home risk.
- A Landlord Insurance Policy will afford coverage for the Dwelling (Building), Other Structures (Fences, exterior structures etc…), Loss of Rental Income (Due to covered loss) & Premises Liability.
- It is important not to confuse this coverage with a similarly looking list of coverage on Homeowners Insurance policies.
The Landlord Insurance contract differs in many ways from the Homeowners Insurance contract; where the tenant-occupied property is deemed a higher risk, the owner-occupied property has a broader reach of coverage. These 2 very different forms of insurance are not an option; the correct form is necessary to cover the specific residential occupancy.
Policy Service
Customer Service is available via direct insurance company portals and tele-servicing centers for our clients and their mortgage companies.
Claims Reporting Service is available 24/7 directly online, via mobile apps and personalized telephone service.
More details available on our Policy Service tab.
- Verification of Insurance by Mortgage Companies
- Billing and Payment Services
- 24/7 Claims Reporting Hotline
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Results You Can Trust
HDA Insurance Brokerage is a certified and licensed National provider of home insurance and other insurance products online direct to the consumer public and via our institutional arrangement with mortgage providers. Since 1986, this Personal & Commercial Lines agency evolved into a national property insurance provider with a focused expertise in Homeowners Insurance, Landlord Insurance, Renters Insurance, Earthquake Insurance & Commercial Lessor’s Risk Insurance.
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FAQ
Here are the most common questions
Chances are, you'll find the answer in our FAQs. We have listed some of the more common questions asked by Landlords.
We’re here to answer any and all your questions. For more specific questions, you may complete our Contact Us form and one of our representatives will be happy to personally research the topic and respond at your convenience.
Landlord Insurance will cover a tenant-occupied 1 -4 unit structure for Damage to the Building, Damage to Other Structures on the Property, Loss of Rents due to a covered loss & Liability coverage for bodily injury or property damage on the premises.
Other than the fact that your mortgage lender requires Fire Insurance, Landlord Insurance (inclusive of Fire Insurance) is essential because it is the only form of protection from financial loss resulting from accidents, natural disasters, injuries and other liability issues associated with your rental home.
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The amount which is deducted from the pay out for each claim. A higher deductible will result in a lower premium and a lower deductible will result in a higher premium when shopping for insurance.
Theft of personal contents is usually covered under personal property coverage on Homeowners Insurance policies. In the case of rental properties, Landlord Insurance does not cover the tenant’s personal contents; thus it is the tenant’s responsibility to purchase Renters Insurance which will most likely offer coverage against Theft.
Since the rental of a property is a business endeavor by the Landlord, Landlord Insurance is a business expense. It is both a required expense, a necessary expense and an expected business deduction for tax purposes. Please ask your tax professional for specific questions which may pertain to this topic.