Landlord Insurance
The GEICO Insurance Agency can help you find affordable landlord insurance to protect your rental property and the income it generates.
The GEICO Insurance Agency can help you find affordable landlord insurance to protect your rental property and the income it generates.
Landlord insurance, also known as rental property insurance, helps protect you financially from damages or injuries related to a rental property. Property owners should consider a landlord home insurance policy if they're responsible for the entire building, including the exterior and roof. We can also help you find a landlord policy if you own a condo unit and rent it out. This is different from a landlord policy for a building homeowner, since you do not own the entire structure. Contact us today if you have further questions about determining the best type of property insurance or renters insurance for your needs.
Landlord policies protect you and your investment. Most policies include coverage for:
Match your landlord insurance to the rental length. To make sure you have the right rental property insurance, consider the rental experience you offer. Three common situations are:
If you offer short-term rentals, you may need a commercial insurance policy specific to your needs.
Whether you rent out a single-family home, condo, or townhouse, landlord insurance covers:
In the event of a covered loss, landlord insurance may also cover:
Depending on your situation, you may want to consider additional landlord insurance coverage for things like:
Landlord insurance policies help you rent your property with peace of mind for most unplanned expenses. Landlord insurance doesn't cover normal maintenance or property wear and tear, including landlord furnished appliances. It also doesn't provide coverage for earthquake damage. Some other commonly excluded items include:
Damage resulting from water or sewage backup into your home is not covered under a basic policy. You may be able to purchase additional coverage for this type of loss.
Landlord policies are intended for "non-owner occupied" properties. So, renting out a room or floor of the home you live in, or renting out the entire home for one or two short-term rentals, may require additional coverage on your homeowners policy rather than a landlord policy.
Landlord policies also don't provide coverage for floods. A flood insurance policy can be purchased if it is needed.
The cost of landlord insurance varies depending on several factors, including the location of the rental property, its size and age, local weather conditions, and the type of coverage selected. The property's construction materials, security features, and the landlord's claims history also affect premiums.
To lower the cost of your landlord insurance, ask your provider about any available discounts and consider adjusting your coverage limits.
When comparing landlord insurance quotes, start by evaluating the extent of coverage each policy offers, including property damage, liability protection, loss of rental income, and optional add-ons like legal expense coverage or emergency repair services. Pay attention to the policy limits, deductibles, and any exclusions that might affect your coverage.
GEICO Insurance Agency can get you discounts to help make your landlord insurance more affordable, including:
Whether you own multiple rental properties or need to sublet your home for a year while you travel on business, we can help. The GEICO Insurance Agency can help you get the landlord coverage you need and the peace of mind you desire. Call us at (800) 841-3005 for a free landlord insurance quote.
You can reach a sales agent at (800) 841-3005.
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