One of the most popular investments is real estate, specifically rent producing real estate. Whether part of a real estate mogul’s large portfolio or simply a basement apartment that helps pay some of the bills, being a landlord comes with a unique set of challenges. Policies geared towards insuring these risks typically come with the following coverages:

Dwelling or Building Coverage: This portion of your landlord insurance policy will provide protection on the structure where your tenants reside. Typical causes of loss include fire, wind, hail, water damage, and frozen pipes. Some of the more advances causes of loss that you may want to consider are flood, sinkhole, earthquake, terrorism, and water back-up.

Loss Of Rents: If there is a covered loss on the building, chances are your tenants will need to vacate the property for weeks to months while repairs are happening. During this time, loss of rents coverage will allow you to receive reimbursement from the insurance company for rents that you would have received if the loss did not occur. This coverage is a must for any investment property owner.

Liability Coverage: Let’s face it, in today’s world nobody is immune from getting sued. For a landlord this risk is even more likely to occur due to their increased exposure. Whether your tenant experienced a bad slip and fall, your tree fell on the neighbor’s roof, or something else on the premises causes a lawsuit, the liability portion of your policy will pay for both defense costs as well as judgements that would be awarded against you.