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Landlord Insurance
Posted on 2/16/16 at 9:24 pm
Posted on 2/16/16 at 9:24 pm
Any recommendations for a landlord insurance policy? Currently, all of my insurance policies are through State Farm but apparently they don't offer a landlord policy for rental homes.
Also, should I expect to pay more, less or about the same for a landlord policy versus a homes owners policy on the same single family home?
TIA
Also, should I expect to pay more, less or about the same for a landlord policy versus a homes owners policy on the same single family home?
TIA
6
Posted on 2/16/16 at 9:26 pm to Golfer2012
ASI
More
More
Posted on 2/16/16 at 9:30 pm to Golfer2012
I'd expect to pay less for a landlord policy because a homeowner policy typically covers personal property inside the home, whereas that is not included in landlord policy.
Posted on 2/16/16 at 9:52 pm to Golfer2012
Are you talking about a dwelling policy?
Or securing the credit risk?
Or securing the credit risk?
Posted on 2/16/16 at 9:54 pm to yellowhammer2098
quote:
I'd expect to pay less for a landlord policy because a homeowner policy typically covers personal property inside the home, whereas that is not included in landlord policy.
The contents piece is certainly less, but the risks are increased because the property is not owner occupied. Typically an owner would care more than renters
Posted on 2/16/16 at 10:12 pm to Mr.Perfect
Had mine through ASI Lloyd's. My quote was a less
Posted on 2/17/16 at 6:05 am to Golfer2012
Mine dropped by $800 or so a year when I switched from resident to leasing out the house. Same company though (Liberty Mutual).
This post was edited on 2/17/16 at 6:06 am
Posted on 2/17/16 at 5:02 pm to Golfer2012
Had ASI for homeowner's, and I stuck with ASI for landlord. Price dropped a couple hundred for the annual premium.
Posted on 2/17/16 at 8:21 pm to nolatiger711
That's odd I have a premium notice on my desk for a rental property in MS from State Farm.
Rental Policy Special Form
Dwelling $82,000
Dwelling Ext. (other structures) 8,290
Personal Property 4,145
Business Liability 300,000/600,000
Medical Pay to Others 1,000
Deductible 1,000
Annual Premium 451
Had a tornado claim on this property in 2014. State Farm paid no problems inc. $3000 to get a tree of the fence and 1 week of lost rent due to power being out at the home. The house power line was pulled from the weather head and TVA main power line was laying across the driveway. Total claim was about 10,000.
Rental Policy Special Form
Dwelling $82,000
Dwelling Ext. (other structures) 8,290
Personal Property 4,145
Business Liability 300,000/600,000
Medical Pay to Others 1,000
Deductible 1,000
Annual Premium 451
Had a tornado claim on this property in 2014. State Farm paid no problems inc. $3000 to get a tree of the fence and 1 week of lost rent due to power being out at the home. The house power line was pulled from the weather head and TVA main power line was laying across the driveway. Total claim was about 10,000.
Posted on 2/17/16 at 8:24 pm to Golfer2012
I'm not sure where you're located, but I just switched all mine to Pazos in Covington. They were extremely easy to deal with.
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