Landlord insurance is a dwelling policy designed for property owners who have a secondary residence used by others. Although landlords who rent their property to tenants use this type of policy most often, this isn’t the only possible use. Individuals who own a second house, which is occupied by a family member, may also carry this coverage.
Unlike insurance policies for homeowners, landlord insurance typically offers little or no coverage for personal property. Because of this, a landlord who leases a fully furnished home to tenants may need to add personal property coverage or purchase a homeowner’s insurance policy with increased liability coverage.
In order to provide the necessary coverage for the many unique circumstances landlords face, these policies offer certain beneficial features not found on other dwelling policies such as:
It is important to note that a landlord policy covers the house itself, attached fixtures, and some of the landlord’s property, such as appliances. This type of policy does not offer any coverage to the tenants’ personal property.
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