Landlord Insurance: What Does It Cover?
If you become a landlord you will need landlord insurance in Orange to ensure that you and your property are covered.
According to the Rental Protection Agency, more than 500 people become landlords in the United States daily. The term landlord stretches from people who rent out entire complexes to those who only rent out their home. Landlords need landlord insurance in order to protect their property and their liability, which offer protection from financial loss. Let’s go more into detail about what landlord insurance in Orange does and what it covers.
Landlord Property Protection
Dwelling: This coverage can help protect your property if it is damaged by fire, wind, lightning, hail, or any other covered peril.
Maintenance Equipment: If you own a lawnmower, leaf blower, or any other equipment you use to maintain your property, this policy can cover this equipment
Other Structures: This part of your policy helps protect your property that is not necessarily part of the living quarters. Things like your garage, storage room, shed, fence, and other such structures.
Landlord Liability Protection
Landlord liability insurance protection can help pay for any injuries that a person incurs while on your property. If a person is on your property and harm befalls them, you will likely be held liable for their injuries and any medical bills that result from that injury. This person can be one of your tenants or another guest. Liability protection can also help pay for any legal costs associated with the injury.
The proper landlord insurance can protect you should a covered peril occur on your property. Without it, you will be forced to pay all of the expenses out of pocket. Call Remland Insurance today for additional safety information or to update your California home insurance policy in Orange County and surrounding areas – 714.532.3341