How It Works

One concern of any property owner is the potential liability for someone who is hurt on the premises. A landlord is not exempt from liability by virtue of renting the property. Someone comes onto the property and falls down resulting in a serious injury. That injured party is going to pursue both the landlord and the tenant. Although the injury may be totally the fault of the tenant, or no fault of anyone, the landlord will still have to process a claim. If the injured party files a legal action, the landlord will need an attorney to handle the lawsuit and appear in court. It is expensive to defend a claim, even if you eventually win. Liability coverage pays for all those expenses.

Landlord insurance covers the property against loss due to events such as a fire. It will pay to repair the property, and restore it to its original status. The policy also covers the personal property of the landlord left on the premises for use by the tenant. Examples would be refrigerators, washers, and dryers. Often times the tenant has to move out while repairs are being made. That means loss of rent. The policy will also cover those losses. Of course, all coverage is subject to the limits selected by the landlord. An owner needs to carefully choose those limits in consultation with their insurance agent.

Major Benefit

The major benefit of this policy is protection for the landlord’s property while in the physical possession of another person. There is a limit to how much the landlord can control, and this policy fills in the gaps.