If you own a rental property, such as an apartment complex, you know how important it is to protect your investment. Apartment owners insurance, also commonly referred to as landlord insurance, is an essential type of coverage that can help you do just that. Gordon Insurance understands that navigating the insurance market can be difficult, but we’re here to help. Contact our team today to discuss your insurance needs as a landlord. 

What Is Landlord Insurance? 

 

Landlord insurance is a specific type of insurance that is designed for individuals who own and rent out properties. This type of insurance provides coverage for damages or losses to the property, as well as liability coverage if a tenant or visitor is injured on the property. 

What Does Landlord Insurance Cover? 

 

The specifics of what landlord insurance covers can vary depending on the policy you choose, but most policies include the following types of coverage: 

• Property damage—This covers damage to the property caused by events such as fire, storms, vandalism and theft. 
•  Liability—This covers legal expenses and medical bills if a tenant or visitor is injured on the property. 
•  Loss of rental income—This covers lost rental income if the property becomes uninhabitable due to damage. 
•  Optional coverage—You can also add additional coverage to your landlord insurance policy, such as coverage for natural disasters, water damage or rent guarantee insurance. 

It’s important to note that you may want to consider purchasing earthquake coverage, as parts of California are prone to earthquakes. Talk to Gordon Insurance to determine whether this type of coverage is necessary. 

Why Do You Need Landlord Insurance? 

 

If you own a rental property, you need landlord insurance to protect your investment. Landlord insurance covers damages or losses to the property, and offers liability coverage if a tenant or visitor is injured on the property. Without this coverage, you could be held liable for significant expenses. 

You should also consider requiring your tenants to show proof of adequate renters insurance as a lease condition. Doing so can help ensure you are not held liable for any property damage or losses they may experience while living on your premises. 

How to Get Landlord Insurance  

 

Landowner insurance is essential for anyone who owns and rents out a property. It can help protect your investment, provide peace of mind, and ensure you meet your legal requirements. Contact Gordon Insurance to learn more about landlord insurance and get a quote for your property.