LANDLORD INSURANCE
Landlord insurance, structured for rental property owners.
The moment a tenant moves in, your standard homeowners policy stops covering the property. Landlord insurance covers the building, lost rent if a covered loss displaces tenants, and your liability as a property owner.
What it covers
What a landlord policy covers.
What it covers
Dwelling coverage
The cost to repair or rebuild the rental property after a covered loss. This is the rebuild cost limit, separate from the property's market value. It reflects replacement cost, not what the property would sell for.
What it covers
Loss of rental income
If a covered loss makes the property uninhabitable, this pays your expected rental income while repairs happen. The most underused part of landlord coverage and often a savior during long repair periods.
What it covers
Landlord liability
Pays if a tenant, their guest, or any third party is injured at the property because of your negligence as the owner. Standard limits start at $300,000. Higher limits and an umbrella policy raise the liability ceiling above that figure. The right limit for your property and risk is something a licensed advisor can confirm in a coverage review.
What it covers
Other structures and personal property
Detached garages, fences, and any furniture or appliances you own at the property fall under other structures and personal property. Tenant-owned belongings are not covered. Tenants need their own renters insurance.
Where policies have edges
What a landlord policy does not cover.
Not covered
Tenant-owned belongings
Anything inside the property that belongs to the tenant is excluded. Tenants need their own renters insurance to protect their property.
Not covered
Flood damage
Standard landlord policies exclude flood damage. Flood coverage requires a separate NFIP or private flood policy on the property.
Not covered
Tenant-caused intentional damage
Damage that the tenant intentionally caused is generally excluded under the property coverage. This is what the security deposit and tenant lease are for. Some carriers offer endorsements for malicious damage by tenants.
Not covered
Vacancy beyond the policy limit
Most landlord policies restrict or exclude coverage if the property is vacant for an extended period (typically 30 to 60 days). Long vacancies require a vacant property endorsement or separate vacant home policy.
Who needs this
Who needs Landlord Insurance?
Anyone who rents out residential property. Standard homeowners insurance excludes coverage when a property is rented to a tenant. Landlord-tenant law varies by state, particularly around security deposits, eviction, and habitability standards, but the insurance basics are similar everywhere.
What it costs
What can you expect to pay?
Varies by state, property type, location, claims history, and rent level. Most single-family rental properties pay between $800 and $2,500 per year. Multi-family and coastal properties typically cost more.
Requirements by state
How does this work in your state?
Landlord Insurance rules, regulatory requirements, and available coverage vary by state. Send us your state and details through a free coverage review and we will confirm what applies to you.
If You Need to File a Claim
Claims tips
Landlord claims usually involve property damage, a tenant injury, or a liability incident. The mechanics combine elements of both home and business coverage.
- Make the property safe and prevent further damage. Stop ongoing damage, secure the property, and tarp or board if needed. Most policies require you to mitigate further loss.
- Notify your carrier promptly. Property and liability claims both have prompt notice requirements. Late reporting can be grounds for denial.
- Document everything before any cleanup. Photos of damage, the condition of the property, any items damaged. Get exterior shots too.
- Get a written incident report from the tenant. What happened, when, and how. The tenant's account is critical evidence and memory fades quickly.
- Track loss of rental income with documentation. Provide your lease, recent rent receipts or bank deposits, and any rent abatement granted to displaced tenants. Loss of rental income coverage typically pays the difference between actual and expected rental income.
- Document any tenant injury immediately. If a tenant or guest is hurt, photograph the scene, get witness names, and refer all communication to your carrier. Do not admit fault.
OUR CARRIER PANEL
Carriers We Work With
The carriers we compare are licensed and regulated in your state. We shop these markets and present the options that match your situation; a licensed advisor reviews the fit with you in a free coverage review.
Foremost Insurance
Specialty personal lines coverage, including manufactured homes, seasonal properties, and non-standard risks.
Learn moreNationwide Insurance
Nationwide brings financial strength and a wide product range to personal and commercial clients. An honest review of their ratings, claims,
Learn moreSteadily Insurance
Landlord and short-term rental coverage including Airbnb and VRBO for investment properties.
Learn moreStillwater Insurance
Coverage When Other Carriers Say No
Learn moreCommon Questions
Landlord Insurance: frequently asked questions
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.
Can I use a landlord policy for my Airbnb property?
No. If you use your property for Airbnb, VRBO, or any short-term rental, you need either a short-term rental endorsement or a dedicated STR policy.
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.
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.