Finding The Best Landlord Property Insurance

is covered in the policy.  Repairs to damaged property may also be covered as well as the lost income from the unusable property.

Landlord policies may be exclusive to either interior or exterior damage to the property.  The specific language of the policy should be considered carefully to determine exactly what is and is not covered.  

Two types of policies exist for landlords.  Comprehensive policies cover all types of damages and loss except for any that are specifically excluded.  By contrast, peril policies cover fewer kinds of losses and only those that are specifically included by the policy.  These policies, as one might imagine, are cheaper.

Landlord policies are intended to protect that landlord’s property, income, and liability.  It does not protect the tenant’s property.  They are themselves responsible for their own property.  Renter’s insurance is available and a wise move.

Landlords are given an option as to the type of coverage they select.  One covers actual cash value.  This is the cheaper option but the money that this policy pays is for the current cash value.  That means depreciation is factored in to determine the present value.  It will most certainly cost more (and in some instances, much more) to replace this item than the amount of the cash value provided by insurance.

The other alternative is for replacement value.  As the name implies the insurance covers  the cost for