Quality coverage for your investment.
Don’t assume that you as the owner are protected just because your tenant has rental insurance. The hazards you encounter while renting out your property to others are specifically covered by rental property insurance.
Rental property insurance in Mount Juliet and throughout Tennessee.
In contrast to tenant insurance, rental property insurance is a specialized home insurance plan for the owner of the property. Similar to a homeowners policy, it is made to take into consideration the unique risks you run when renting a home rather than owning one.
Common Rental Property Insurance Coverages
Rental property insurance frequently covers lost income if property damage prevents you from renting out your property for a while, in addition to damage to the building itself and your personal property (such as included furniture). In many cases, the policy will also cover any responsibility you could encounter if a tenant brings a claim for harm sustained on the property.
Other hazards that fall under this category include any fees associated with relocating a tenant while making repairs, as well as any damages that result in a renter owing you money.
One thing to keep in mind is that most plans don’t cover lost income from a renter who doesn’t pay rent or the expenses of evicting a tenant if necessary.
Contact us today if you have any questions about rental property insurance or would like a free no obligation quote.
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FAQ
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Any Questions You May Have
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Insurance is an arrangement between a company that provides a guaranteed compensation for a specific loss in return for a payment of premium.
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A deductible is the amount of money you pay out of pocket toward a covered claim.
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The cost of a rental insurance policy depends on numerous factors such as the type of home (condo, single family, etc.), amount of coverage for the home, its location and more. Speak to an Agent today to get a quote.
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No. Renters Insurance is what the tenant gets to cover their personal property within the unit. Rental Property Insurance is what the landlord gets to cover the home and any of their property within it.
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