Renting out the second story of your duplex may be a great solution to earn additional income. You may have moved away and want to rent out your home before selling it, or you may be looking for a way to generate extra income. It can be a worrisome and difficult process to find suitable tenants or Landlord Insurance. Hopwood Agency offers reasonably-priced renters coverage in addition to in-depth coverage.
Whether you rent condos or have an entire apartment complex, you have to protect this huge investment. When things break, they need to be fixed, and the land needs to be cared for and tended to so it is not a liability for your tenants. To learn more about our landlord insurance coverage, please feel free to call our office today!
Landlord Insurance Coverage
You can never be fully prepared for what is going to happen and with so much at stake, it's important to keep yourself protected. If you are a landlord, let the team at The Hopwood Agency help protect your dreams. These insurance policies generally offer three types of coverage- property damage, liability, and loss of rental income.
- Property damage coverage generally includes damage to your structure due to fire, wind, hail, and snow. It also covers any furniture you leave onsite for the tenant to use. Landlord insurance does not cover your tenant's personal property which means your tenant should purchase renters insurance to cover their belongings.
- Liability coverage protects you if someone is injured on your property. However, if your tenant's guest is injured on the property, their renter's insurance may cover any lawsuits.
- Loss of rental income coverage helps cover the income in your property is unable to be rented due to a fire or other situation.
When you are ready to purchase landlord insurance, contact us today!