If you need protection for the homes you rent out, GPA Insurance Agency is ready to personalize an investment property insurance plan that will protect all the investments you have made.
Why not homeowners insurance?
As you are renting out your property to others, homeowners insurance will not be able to protect your investments, since you do not occupy the residence. However, this means you can qualify for investment property insurance, which is a form of landlord insurance.
What does investment property insurance cover?
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Personal Property: Provides coverage for items used to service the rented property. It may, however, help cover items such as a snowblower or lawn mower that you store on-site to help maintain the property.
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Liability Coverage: Provides liability coverage relating to the rented premises. If a tenant is hurt in the home you're renting out and you are found legally responsible, the liability coverage on your landlord policy may help cover the resulting medical expenses or legal fees.
What about tenants’ belongings?
Neither homeowners nor landlord insurance will protect a tenant's’ belongings. Only renters insurance can protect the personal items belonging to the tenant and can help with liability insurance as well. This is why it is wise to have your tenants be protected under renters insurance.
Keep in mind that with GPA Insurance Agency, you get to personalize your insurance policies to suit your needs and circumstances. As a brokering agency, we can compare prices from different companies for you at no cost. Need help deciding on the right amount of protection that fits in your budget? Get an online quote now or speak with a friendly agent to get started!