One of the most important things to consider when deciding on landlord insurance is the amount of liability covered. Some policies include a $1 million liability limit. This limit protects you from lawsuits and legal fees. Other factors to consider when choosing landlord insurance include the age of the home, the materials used in the construction, and any natural disasters that may occur on the property. By choosing the right amount of coverage, you can save a lot of money on your insurance.
When comparing landlord insurance, you should know that it is generally more expensive than the average homeowners’ insurance policy. However, it is worth the extra money to have peace of mind. There are many exclusions to landlord insurance coverage. For example, the policy may not cover any damage or loss caused by a vacant dwelling. If you are renting out a building, consider buying an insurance policy that covers the obligations of both you and the tenant. Taking measures to protect your investment will make the cost of landlord insurance more manageable. Get started by consulting our insurance advisors at Madero Insurance.