As a landlord, you take on a lot of risks. Having strangers living in your house can lead to a bunch of issues. A good insurance policy to cover you if problems do arise, is probably what you need. So what does it cover? Landlord insurance usually covers the following:

• Property Damage – Property damage covers areas of the building or structure and certain personal property of a loss due to fire, storm, theft, vandalism, or tenant damages. Note that this is not the personal property of the renter.
• Liability – Liability covers you in case there are any injuries at the property. This includes the tenant or a visitor. Liability usually covers medical costs, funeral payments, legal fees, and judgment costs. Liability also covers you for property damage done to others. If you, the landlord, causes damage to the property of any visitors or tenants, this will cover the costs.
• Loss Of Rents – Loss of rents covers you if the home was inhabitable and you were losing money due to a covered loss like a fire or storm. If tenants are unable to live there, you will be reimbursed for the loss of income during that time.

Do I Have To Have Landlord Insurance?

Landlord Insurance is actually not required in California, but that doesn’t mean you shouldn’t have it. You take a lot of risk as a landlord and if there is a claim and you don’t have insurance, it comes out of your own pocket. Some homeowners policies can be extended over to your rental property, but it has to be endorsed properly. If you are a landlord and have homeowners insurance, make sure to ask us if there’s an endorsement we can add to cover it.

At Unity One Insurance, we are here to help you. Call us at 949-450-1822 or by email at chris@unity1.com. Speak to one of our experienced licensed brokers for a free quote on landlord insurance!