Kansas City Landlord Insurance
Landlord Insurance Quote Forms
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Landlord Insurance Information
As a landlord, you must account for various risks and exposures, as well as incidents that may affect your tenants. Accidents, oversights and other incidents can all have significant financial ramifications, and insufficient preparations could leave you without the means to manage resulting losses and expenses. Given the investment a rental property represents and the accompanying risks, you should prioritize purchasing landlord insurance.
What Is Landlord Insurance?
Appropriate landlord insurance can help you access critical funds and resources following incidents affecting you, your tenants and your rental property. These policies generally help protect the physical structure of a property rented to tenants, as well as personal possessions kept on the site by the landlord (e.g., a lawnmower). Landlord insurance typically includes a liability component, too.
How Landlord Insurance Works
Your landlord insurance policy acts as a binding agreement between you and your insurance company. By selecting a policy and maintaining it through your premium payments, you can retain access to financial assistance in response to covered incidents and subsequent claims may provide payouts up to your policy’s limits and minus any deductibles.
What Does Landlord Insurance Cover?
Landlord insurance can provide multifaceted financial protection, which may render aid for losses involving the following:
Do I Need Landlord Insurance?
There are no legal requirements regarding landlord insurance; however, if you have a mortgage on your rental property, your lender may require you to maintain coverage until your loan is paid off. You should also be aware that standard homeowners insurance does not generally provide coverage for a dwelling where you are not the current resident. As such, if you’re renting out a home that you previously lived in, you should strongly consider purchasing a landlord insurance policy.
- Structures, such as the roof, foundations and plumbing systems of your rental property, as well as other buildings on the property, including garages and sheds
- Liability, such as if you are accused of being at fault for a tenant’s property damage or a guest’s bodily injuries
- Loss of use, such as if a covered incident renders your rental temporarily uninhabitable, thus making you unable to collect income
- Possessions, such as if you leave lawnmowers, snowblowers and other equipment at your rental property
We’re Here to Help
With over 20 years of experience serving the Kansas City area, the dedicated staff at Auto Insurance Discounters is well-equipped to help you assess and address your coverage needs. Contact us today to learn more or to get a personalized landlord insurance quote.