Definition
Landlord insurance is specialized coverage for rental properties, including property damage, liability, and lost rent protection.
Where you’ll meet it
Will the rental income actually cover anything?
See it in Buying a second home · Step 4About this term
Landlord insurance covers property damage, liability, and loss of rent if tenant unable to occupy. More comprehensive than homeowners insurance for investment properties. Typically costs 15-25% more than homeowners. Coverage limits higher due to commercial exposure. Liability limits often $300,000-$1,000,000. Loss of rent coverage compensates if tenant can't pay. Required by lenders for rental properties. Professional property management discount available.
Pro Tip
Landlord insurance is essential for rental property protection.
Example
Landlord insurance covered property damage and loss of rent during tenant disputes.