Are you currently a landlord or thinking about becoming a landlord?
Here are some questions to consider:
- What if the tenant leaves the stove on by accident and there is a fire?
- What if there is a broken board on the stairs and the tenants guest falls through it?
- What if the tenant has a dog that bites someone at your rental property?
There are several important scenarios to consider as a landlord, and it is important to have the proper coverage for you investment and your liability exposure.
On a landlord insurance policy in Washington and Oregon today, you can expect to find:
- Dwelling – The structure of your rental property.
- Detached Structures – A separate shop, garage, fence, etc…
- Personal Property – Your personal possessions if any are kept at your rental property.
- Loss of rent – Rental income while your rental property is not habitable due to a covered loss.
- Personal liability – The coverage that helps protect you and the members of your home against lawsuits.
- Medical Payments – The coverage that will cover medical expenses that arise when someone other than a member of your household is injured on your rental property.
If you are a landlord it is also important to consider umbrella insurance for additional protection.