Being a landlord comes with a unique set of responsibilities and challenges. One crucial aspect of financially safeguarding your investment property is insurance coverage. While standard homeowners insurance may financially protect your residence while you live in it, these policies might not be sufficient for a property you're renting out to tenants. This is where landlord insurance steps in.  

What Coverage Is Included in a Landlord Insurance Policy? 

The following are some common coverages typically included in a landlord insurance policy:  

• Property damage coverage may help financially protect the physical structure of your rental property, including the building and any permanent fixtures (e.g., walls, floors, ceilings), from damage caused by events like fire, storms or other covered perils.

• Liability coverage may help protect you from legal and financial consequences if someone is injured on your rental property and holds you responsible. It may help cover resulting legal fees, medical expenses and court-awarded damages.

• Loss of rental income may help compensate you for lost revenue if your property becomes uninhabitable due to a covered event (e.g., fire), and are therefore unable to collect rent from tenants during the repair or rebuilding period.

• Contents insurance is optional coverage for any personal belongings you may leave on the property for tenant use, such as furniture or appliances.