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HS Capital Realty LLC
Haleh Struzinsky, HS Capital Realty LLCPhone: (518) 729-8278
Email: HalehHomes@gmail.com

Why landlord insurance is a great investment

by Haleh Struzinsky 04/17/2023

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Renting out a property can be very profitable, which makes it especially important for landlords to protect their investment. Landlord insurance provides property owners the financial peace of mind they need for renting out their properties.

Here is a simple guide to understanding insurance options for rental properties. 

Do I need landlord insurance?

Much like homeowners insurance, landlord insurance isn’t a legal requirement. However, many mortgage lenders require landlords to get insurance for their rentals if seeking financing. 

Understand your landlord coverage options

Landlord insurance offers similar coverages to homeowners insurance. Primarily, a landlord insurance policy will cover structural damage to the property. However, it will also cover loss of rent income if repairs cause the renter to move. 

What's not covered by landlord insurance?

Landlord insurance doesn’t cover everyday damage from wear and tear. It also may exclude damage from certain perils, like earthquakes or floods.

Your rental property

The current state of your rental property can affect the cost of landlord insurance policies. This includes factors like the age of the property, location, size, amount of rental units within the property and the presence of on-site security.

For insurance providers, there is a higher level of liability when a property is being rented out to somebody other than the owner. This can make insurance pricey. However, having a policy specifically for your rental property can save you money in the future. 

Speaking with an insurance lender can help you find the right policy to protect your best interests.

About the Author
Author

Haleh Struzinsky

Being an experienced, licensed Real Estate Broker allows Haleh and her team to help people either locate their perfect home, or sell an existing home. HS Capital Realty LLC is a full service Real Estate Brokerage offering: Residential Sales, and Commercial Sales. Working as Broker of HS Capital Realty LLC, Haleh is dedicated to excellent customer service. You will find Haleh and her team to be honest and, going the extra mile for you. Ready to respond in a quick manner. They understand your time is valuable.

Whether you are an experienced, or first-time home buyer, we have the expertise and qualifications needed to provide the best service. When representing a buyer as an Accredited Buyer Representative. (ABR) As a Seniors Real Estate Specialist (SRES), Haleh is qualified to meet the special needs of Senior clients who are selling their home.

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