Do I need to switch my homeowners policy if I rent out my house?

Yes, you must notify your carrier and switch to a landlord dwelling policy.

How long does loss of rents pay after a Georgia fire or storm?

Loss of rents pays from the date of covered damage until repairs finish or the policy time or dollar limit is reached, whichever comes first.

What do we use Steadily Insurance for in Georgia?

Steadily Insurance is a non-admitted excess and surplus lines carrier specializing in landlord and short-term rental insurance.

What does loss of rents coverage do on a landlord policy?

Loss of rents coverage pays the rental income you would have collected while your property is being repaired after a covered loss.

What is the difference between a landlord policy and homeowners insurance?

A landlord dwelling policy covers your rental property's structure, your liability as the property owner, and loss of rental income.

Landlord FAQs

Should I require renters insurance from my Georgia tenants?

All FAQs

Quick answer: Georgia landlords can legally require tenants to carry renters insurance and list the landlord as an additional interested party.

Georgia landlords can legally require renters insurance from tenants as a condition of the lease. The requirement protects both sides: the tenant's belongings and personal liability are covered by their own policy, and the landlord reduces the risk of disputes that arise when a tenant suffers an uninsured loss on the property.

Does a landlord's policy cover a tenant's belongings?

No. A landlord policy covers the building and the landlord's liability coverage as the property owner. It does not cover a tenant's personal property or a tenant's personal liability. If a tenant's belongings are damaged in a fire or a guest is injured inside the unit, those losses fall outside the landlord's policy. Requiring renters insurance closes that gap at the tenant level without adding cost to the landlord's own policy.

How can an uninsured tenant create risk for the landlord?

Suppose a tenant's kitchen fire damages their belongings and forces them to move out temporarily. Without renters insurance, the tenant may look to the landlord to cover ruined furniture and temporary housing costs, even when the loss is not the landlord's legal responsibility. That disagreement can escalate into a formal dispute. With renters insurance, the tenant's own policy pays for their personal property and loss of use expenses. If the tenant caused damage to the unit, their liability coverage can respond toward those repair costs as well.

For example, a tenant in an Atlanta apartment drops a candle that damages floors and walls in addition to their own furniture. Without renters insurance, the landlord may need to pursue the tenant directly for the repair cost. With renters insurance carrying a $100,000 liability limit, the tenant's policy covers the damage to the unit up to that limit, keeping the landlord out of a collections situation.

What should the lease require?

A minimum personal liability limit, commonly $100,000 or more, to cover damage the tenant causes to the property or to others.
Proof of active coverage at move-in and at each renewal.
Listing the landlord as an additional insured or interested party, so the landlord receives notice if the policy lapses.

Is renters insurance affordable enough to require?

Renters insurance typically costs $15 to $25 a month in Georgia, making it one of the least expensive requirements a landlord can add to a lease. The low cost means the requirement rarely deters qualified applicants. It also signals to prospective tenants that the property is managed professionally.

For example, a landlord managing a four-unit building in Savannah adds a renters insurance requirement to all new leases. Monthly cost for each tenant averages $18. Every unit now carries liability coverage that can respond to water damage, fire, or injury claims, reducing the landlord's exposure to tenant-caused losses that fall below the building policy's deductible or are excluded from it entirely.

Our FAQ on landlord loss of rents coverage explains how the building-owner side of the equation works when a unit becomes uninhabitable. Landlords managing larger properties can also review our FAQ on habitational and apartment building coverage in Georgia for how policies scale with unit count. You can review the landlord coverage options on our landlord insurance page, and point tenants to our renters insurance page so they understand what the policy covers. Schedule a free coverage review and our team will make sure both sides of the rental relationship are protected.