Rental Property Insurance
In recent years, United States residents suffered from over 364,000 residential building fires.
If you are a Georgia homeowner and have home insurance in place, you should be covered from the damages that arise from a fire. However, if you are a not currently living in your home, think again. If you are renting out your home to another family or individual, home insurance will be of no use to you. This is where rental property insurance comes into the picture.
What does rental property insurance cover?
Rental property insurance, also commonly referred to as dwelling fire insurance, is designed to protect landlords. Its main goal is to protect you from the loss of rental income as a result of a fire onsite. The coverage depends on your specific policy, but it will generally provide up to a year’s worth of rental income. Having this replacement of income will allow you the time and resources to have your rental home rebuilt, repaired, and rented once again. It can also be designed to provide liability coverage, as well.
Is rental property insurance worth it?
If you cannot afford to replace your rental property or lose the money that you make from it, this policy is crucial. Without it, you could not only lose your property, but be in debt with hundreds of thousands of dollars. If you are having trouble deciding, one of our agents would be glad to go over your options.
Protect your rental property with the help of Lloyd Pro Group.
To find out more about our rental property insurance solutions, please do not wait to contact our agents in Atlanta, Duluth, Decatur, or Douglasville. We strive to guide our clients into the right direction. We would be more than happy to answer any questions or concerns that you have about this coverage, as well as provide you with a free quote.