Renters Insurance VS Landlord Insurance — What’s the Difference?
While renters’ insurance and landlords’ insurance are both necessary, the two differ considerably. Renters insurance covers the belongings of the person renting the home or apartment. Landlords’ insurance, on the other hand, covers the liability associated with the rental property and losses associated to the rented building or dwelling. In either case, gaining a firm understanding of both types of coverage is a great help when renting a property. What is Renter insurance and what does it cover? Renters’ insurance is purchased by the tenant to cover the loss of his/her/their belongings or......
Landlord Insurance 101: A Quick Guide
If you have a residential property and considering renting it out, you may have all kinds of questions about landlord insurance and if you really need it. Landlord insurance is also known as Dwelling Fire insurance or a Commercial Insurance. It provides similar coverages, as your homeowners’ policy, but instead, it is for a property that you own and rent to others. A home insurance policy will not cover damage to the rental property. So, if you own rental property, such as a single-family home or two or a multi-unit building, you should......