Rental Property Insurance for landlords
When renting out an investment property, it is important to carry insurance coverage that is specifically designed for a tenant-occupied property. Whether you have a single family rental or a 20-unit apartment building, National Real Estate Insurance Group offers custom property and liability packages designed to protect your rental property and your investment.
Submit your property information using our online proposal request, and receive a proposal. An agent will contact you to go over your custom insurance options and help you choose the best coverage for your specific situation.
Start a proposal request to get your rental property insurance solutions today!
What does rental property
When renting a property to someone else, dwelling coverage can protect your property against direct physical damage to the property, such as:
- Windstorm and Hail
- Named Windstorm and more
Choose between Basic and Special form coverage when discussing insurance options with your agent.
Liability insurance for
Premises Liability coverage is critical in protecting you, the investor, from claims that happen at your investment property. Examples may include:
- If someone were to slip and fall on your property
- If one of your tenant’s dogs were to bite someone on your property
- If your tenant suffers medical issues due to a carbon monoxide leak
- Coverage extends to pools and spas, provided they meet code
- Medical expenses are included
Our liability insurance options start as low as $7 per month, per property and come with $1,000,000 per occurrence and $2,000,000 aggregate limits of liability.
How much rental property insurance coverage do I need?
Rental property insurance provides coverage in an event of a loss at the property. The amount of coverage will depend upon requirements from your lender, your exit strategy in the event of a total loss, and your appetite for risk. After you request a proposal, an agent will discuss with you how much coverage you need as each situation is unique. You can request a proposal or call 888.741.8454 to discuss your proposal with one of our licensed insurance professionals.
What deductible is right for a property you are renting to tenants?
Property deductible is a portion of what you are responsible for paying “out-of-pocket” toward a loss at your property before your insurance carrier will pay for a claim. When deciding on a property deductible, think about the minimum claim you would have to turn in before it harms your business and do as much as double it. If you would never file a $1,000 claim, don’t carry a $500 deductible. Remember, the lower your property deductible, the higher your rate. Our liability insurance has no deductible.
How much does rental property insurance cost?
Insurance costs vary greatly based on coverages you chose to carry, deductible, where your property is located, and the size of your portfolio. With us, you can insure your tenant-occupied property at $60 per square foot to obtain Actual Cash Value coverage with no co-insurance and only $80 per square foot for Replacement Cost coverage. Because of our monthly reporting form, you can pay for coverage monthly, never overpaying for rental property insurance.
Add more coverage to your rental property and liability insurance
With National Real Estate Insurance Group, you can add extra coverage options to your rental property insurance. After you request a proposal, an agent will contact you to discuss your proposal and coverage options to limit your exposure. We have products ranging from flood to equipment breakdown to additional liability limit options.
Need to speak to an agent?
Please give us a call at 888.741.8454 to speak to a licensed insurance professional. If you would like to discuss your specific location, please request an insurance proposal and one of our agents will contact you shortly.
Want to learn more about rental property insurance?
Read one of our articles about insuring tenant-occupied properties or go to our Resource Center to learn more about different insurance topics.
Is It Covered? Garages, Fences & Other Structures
Some assume coverage for garages, fences, and other outdoor structures is automatically included in their insurance policy as these items [...]
What is Cash for Keys and how to avoid tenant damage?
So what do you do when a “normal” check-out scenario clearly won’t work with your current tenant? i.e. He/she is [...]
Solving the Most Common Issues with Rentals
Rentals can be a great source of income, but if they aren’t managed well, tenants can significantly damage the physical [...]
Top 4 Myths About Renters Insurance
Get the truth about one of the most valuable policies around. Renters' insurance is an often-forgotten coverage that is surprisingly [...]