Blog

Aug
22
Landlord Insurance

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Rental properties are a big investment, so making sure you are protecting your investment is a must! Here is a breakdown of what your landlord insurance can cover:

Property damage: This covers damage to the home itself and personal property due to fire, storm damage, theft, vandalism and tenant damage. Ideally, your landlord insurance will cover the replacement costs for your entire rental property in the event of a total loss.

Liability insurance: This coverage protects you against liability claims and lawsuits. Whether a tenant, visitor or even a trespasser is injured on your rental property, you could find yourself in a legal headache. Your liability insurance will help you cover these costs. These costs can include medical payments, legal fees and judgment or settlement costs. You will also be covered if you, as the landlord, are found responsible for another person’s property damage. For example, if you neglect to fix a leaking water pipe and mold damage destroys a tenant’s expensive collection of vintage albums, a liability claim can be filed against you by the tenant.

Loss of income: This insurance will help compensate you for lost income in the event that your rental property becomes uninhabitable due to a covered loss, such as a storm or fire. Your loss of income coverage, or “rental reimbursement,” will prevent you from losing the income you would have had if you were collecting rent.

Optional coverage: As a landlord, you can buy additional coverage, such as rent guarantee insurance, natural disaster insurance, employer liability insurance and landlord contents insurance to cover your personal property items such as furnishings or carpet in the rental property.

Be sure to contact your insurance company to ensure you are getting the best coverage possible for your investment or to go over additional options you may benefit from.


TCT Property Management Services, LLC

2500 S Power Road #121

Mesa, AZ 85209

T: (480) 632-4222

F: (480) 632-4226

E: info@tctproperties.com


Office Hours: Monday - Thursday 8:30AM-5:00PM, Friday 8:30AM-4:00PM

Se habla EspaƱol

Jennice Doty, Designated Broker


For AFTER BUSINESS HOURS maintenance EMERGENCY, please call 480-632-4225 and the on-call property manager will assist you

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