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LANDLORD/RENTAL PROPERTY INSURANCE
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Landlord & Rental Property Insurance in Northwest Indiana
Landlord and rental property insurance is a great way to protect your business and investments. It is essential for anyone who owns or rents out a property, as it helps minimize potential financial losses in the event of an unforeseen incident. Rental property insurance is designed to offer protection against damages or losses that might occur on the landlord’s rental property.
This type of insurance can cover a variety of risks including fire, hail, wind damage, theft, vandalism and liability claims. Landlords can also benefit from additional coverage such as loss of rent reimbursement if the tenant fails to pay their rent due to an insured peril like fire or water damage. Having this kind of coverage means that landlords will be able to recuperate some money if their rental units are damaged beyond repair.
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Property And Liability Protection: What’s The Difference?
Property protection in a landlord insurance policy typically protects the physical property you own related to the rental. That includes the actual home, condo, or apartment being rented as well as other structures like a detached garage or fence. Personal property used to service the rental like a lawnmower or snowblower is also protected through property protection policies. This type of coverage helps to pay for damages or other covered losses.
The liability protection portion of your policy serves to assist you in paying for another person’s medical bills or legal expenses in the event that you are responsible for an injury that occurred on your property. For example, if a tenant slipped and fell down the stairs at the rental property you own and the court determined that the injury occurred due to a lack of building safety and maintenance on your part, you could be held responsible for any related medical, legal, or other costs. Liability protection would help to cover those expenses. Normally, there is no deductible to be paid for a liability claim.
Get In Touch With Valpo First Insurance Today
Are you in need of rental insurance? Contact Valpo First Insurance today to find out more about the various plans we offer! Valpo First Insurance is dedicated to providing its customers with quality coverage at competitive prices. We offer an array of plans, so there’s sure to be something that fits your needs. Whether you are looking for a basic liability policy or full-coverage protection, Valpo First Insurance has you covered.
Our knowledgeable agents will review each policy option and help you decide which plan best meets your needs and budget. With our simple process and affordable rates, it’s easy to get the protection you need for your rental property. Call us today at (219) 462-4334 to speak with a representative.