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Do You Need Landlord Insurance?

Renting a property for the first time can be a little scary. It’s a leap of faith to let someone live in your home. One way to protect yourself and your investment, and to find a little peace of mind, is with landlord insurance.

You’re probably familiar with renter’s insurance and homeowner’s insurance, and landlord’s insurance is very similar. It protects your property from a variety of financial losses that are particular to leasing a property. For instance, many landlord insurance policies cover the standard risks of owning a property: fire, lightning and general property damage. But many go considerably beyond that to cover malicious damage by a tenant and theft. Other policies might offer the option of rent guarantee insurance to make sure you get paid even if your tenant can’t make rent for whatever reason. Every policy can vary, so make sure you find one that meets your needs. An experienced property manager can help you assess your risk and guide you in the right direction of the policy that best fits your needs. But you might find that you sleep a little more easily knowing you have landlord insurance backing you up, just in case.

For more information or to learn how you can lease your Indianapolis-area property, contact us today.

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