Insurance Considerations for First-Time Landlords
Key questions rental property owners should review when insuring a dwelling.
Rental property owners should consider occupancy type, replacement cost, property condition, liability exposure, loss of rental income, renovation plans and whether a property may be vacant. Personal homeowners insurance is generally not designed for ordinary rental activity.
Questions to discuss with your agent
- What activities and locations are covered?
- Which exclusions or endorsements are important?
- What limits are required by contracts?
- What information should be updated during the policy term?
This article is general information only and is not a policy interpretation or guarantee of coverage.