How To Find The Best Landlord Insurance

The insurance sector can be confusing if you are new to the system or don’t understand the policies regarding rental house insurance. This can spell doom as a landlord because an uncovered claim can cost you lot of money, putting a hole in your pocket.

Having the right insurance policy in place can protect you against losses that arise as a result of unforeseeable events like fires, and wind storms etc. How can you find the best insurance plan for your rental apartment?

Hire a professional: it’s important that you buy from an agent that is familiar with the challenges of rental properties. An independent agent can shop for the best rental property insurance package giving you the best coverage and price to suit your needs. We can also help you add valuable endorsements to protect your investments. Ask your agent about loss of rent protection and what it could do for you.

Discount offer: once you’ve decided on the agent you want to use, find out if the company offers any discount to their clients. For example, homes with safety measures in place like deadbolt locks, sprinklers and alarm systems, smoke and carbon monoxide will get lower premiums. Also if you have more than one property, you can inquire if they offer multiple policy discounts.

How good is your credit score? This can also help determine the cost of insurance for your rental house. The higher the credit scores are, the lower the insurance rate you will be. It’s important that you maintain a good credit and always monitor your credit scores.

Update your Insurance policy: always ensure that your rental property insurance policy is up-to-date to protect yourself when you incur a major loss on your property.

Have a second look: As a landlord you are very busy but having a second look at your policy with the help of an independent agent can save you hundreds or even thousands if gaps in coverage are found. Don’t leave your policy on the shelf to gather dust, protect your investments. Get a second look on you current policy.

By allowing another property insurance agent to check out your premiums and coverage, you will be amazed or upset how much you are getting from your present agent. This can save you a lot of money and headaches.

If you are looking for solid coverage for your rental property, then look no further; let us help you get that quality proposal for your rental property.

We are happy to insure your single family rental, duplex and even 4 units homes. Give us a call today!

May 9th, 2016 by Safeway Insurance Agency LLC