What does a Georgia landlord insurance policy actually cover?
A Georgia landlord insurance policy protects the building you rent out, your liability as the owner, and the rental income you depend on. It is built for property you own but do not live in, which is why a standard homeowners policy will not work for a rental.
Most landlord insurance policies in Georgia include three core parts:
- Dwelling coverage pays to repair or rebuild the structure after a covered loss such as fire, wind, or a burst pipe.
- Liability coverage protects you if a tenant or guest is injured on the property and you are found responsible, covering medical bills and legal defense.
- Loss of rents coverage replaces the rental income you lose while the property is being repaired and cannot be lived in.
You can often add other protections too, such as coverage for appliances and other personal property you provide, vandalism, or higher liability limits for added peace of mind.
What it does not cover is your tenant’s belongings. That is why many Georgia landlords require tenants to carry their own renters insurance.
For example, if a kitchen fire makes your Savannah rental house unlivable for four months, your policy could pay to rebuild the damaged area and replace the $1,200 a month in rent you lose while the tenant is displaced.
If you own a rental in Georgia and want to be sure the structure, your liability, and your income are all protected, request a free coverage review today.