Rented Properties

Landlord insurance is a policy for someone who rents out a home they own. This type of insurance typically includes two different types of coverage: property and liability protection. Both coverages are intended to help protect you, the landlord, from financial losses.

There are numerous elements to consider when thinking about Landlord Insurance so we highly advise that you get in touch so we can tailor a package that best suits your requirement.

Below are some topics to consider.

LANDLORD PROPERTY PROTECTION
The property protection in a landlord insurance policy typically helps cover physical property related to the home you’re renting out. This may include the dwelling itself and equipment you keep on site to help maintain it. Coverage generally includes:

Dwelling. 
This coverage helps pay to repair your rented home if it’s damaged by fire, lightning, wind, hail or other covered losses.
Other structures. 
This part of your policy helps pay to repair detached structures on your rental property, such as detached garage or fence, if they’re damaged by a covered loss.
Personal property used to service the rental
Landlord liability protection. 
The liability portion of a landlord insurance policy may help you pay for another person’s medical bills or your legal expenses if someone else is injured on your rental property and you’re found responsible.

EXTRA LANDLORD COVERAGES TO CONSIDER
Depending on the neighbourhood, geographic area or condition of your rental, you may want to consider adding on some optional coverages to your landlord policy. These coverages may include:
Vandalism.  
You may want optional coverage to help you pay to repair vandalism damage. If your property is vandalised, that type of damage typically isn’t covered by a traditional landlord policy unless you purchase vandalism coverage.
Burglary. 
While a standard landlord insurance policy may help pay to repair your home if it’s damaged in a break-in, it typically won’t pay to replace stolen items. Optional coverage may be available for theft of items you keep on the property to help maintain it, such as appliances or a lawnmower.
Rental property under construction. 
Are you gutting or renovating your rental or building a new dwelling? You may be able to purchase additional coverage to help protect the structure until it’s ready to be occupied.

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