Owning a rental property is an exciting investment opportunity—but it also comes with risks you can’t afford to ignore. That’s where rental property insurance through LHM Realty and our trusted partner NREIG steps in. Whether you own single-family homes, short-term rentals, or multi-unit properties, protecting your investment with the right rental property insurance policy is critical.
At LHM Realty, we understand that real estate investors like you require more protection than a standard homeowners policy provides. A landlord insurance policy is specifically designed to help protect you from financial losses related to property damage, tenant damage, liability claims, and even lost rental income.
Unlike traditional homeowners’ insurance, which typically covers an owner-occupied house, landlord insurance covers specialized situations for rental properties. That includes dwelling coverage for the physical structure, liability coverage if someone gets injured on your property, and even coverage to help replace your rental income if the unit becomes unlivable after a covered loss like a fire or accidental water damage.
Understanding the Costs and Coverage Options
The cost of landlord insurance depends on several factors, including your property's location, age, the extent of insurance coverage, and your chosen deductible. While premiums vary, you can often save money by bundling your policies or qualifying for discounts based on your claim history.
Comparing landlord insurance quotes is crucial. You’ll want to carefully examine the coverage limits, policy limits, exclusions, and customer service ratings of each casualty insurance company. In just a few clicks, you can start comparing landlord insurance quotes to find the right balance of price and protection for your rental.
Our partnership with NREIG makes it easy. Their custom policies are tailored to non-owner-occupied and investment properties, offering robust insurance that helps protect against vandalism, damage, theft, and other unexpected events. Additionally, if your rental property features detached structures, such as garages or sheds, you can purchase separate coverage to protect them as well.
Benefits and Challenges of Landlord Insurance
Landlord insurance helps protect you in many ways, covering repairs, legal expenses, and sometimes even legal fees if you are held responsible for an incident. It can also help cover the costs of rebuilding after disasters such as hail, water damage, or fire.
However, landlord insurance doesn't cover everything. Most policies exclude coverage for floods, earthquakes, and normal wear and tear, so you'll need to purchase additional coverage for these risks.
Additionally, while insurance coverage for tenant damage can be included, intentional damage by tenants is often not covered, highlighting the importance of requiring renters' insurance from tenants to protect their personal belongings.
If you’re unsure about what's included or excluded, speaking with an experienced insurance representative is the best way to understand your specific policy fully.
Our team at LHM Realty is always here to guide you, answer your common questions, and make sure you have the right insurance coverage in place.
Ready to Protect Your Investment? Contact Us Today!
At LHM Realty, we make it easy to protect your investment with the right rental property insurance solutions. Our knowledgeable team works closely with top providers, such as NREIG, to ensure your rental homes are sufficiently covered, providing you with the peace of mind you deserve.
Whether you need help understanding coverage options, evaluating landlord insurance quotes, or customizing a landlord policy for your needs, we’re here to help. Explore our Services Page to learn more, or contact us today for personalized support and a complimentary consultation.
Secure your rental property and save money with coverage you can trust. Let’s protect your real estate investment together!
