The house or apartment unit that you are renting out is a huge investment asset, such as a single family home, duplex, rooming house, students house, basement units or guest house. As an owner of the property, you need to protect your asset by rental property insurance. This can include short time rental, such as Airbnb, vacation rentals, Vrbo. We carefully take the time to assess risk and value of the property so that your investment is protected.
Your Personal Properties*
Consider the replacement, repair and cleaning costs of your valuable properties: your building and/or contents for rent, improvement and betterments. Usually the building would be covered with Actual Cash Value (ACV) but Replacement Cost coverage may be available with conditions.
Loss of Rental Income
When you lose the use of your rental space, you suffer an additional loss of your rental income. Repairs to your property takes sometime to recover the rental income. Your loss of rental income would be covered if your property is damaged by an insured peril.
In addition to the loss of personal property, there is a personal liability to consider. You may be legally liable to pay compensatory damage due to bodily injury or property damage arising from your personal actions, or in your premises. If a guest slips and falls at your rental property, or has an arm broken by a falling tree on your property, you could be liable for the damages and could be subject to a lawsuit. Rental property insurance would provide coverage for situations such as these. Personal Liability coverage starts from $1,000,000 up to $5,000,000.
You could include Earthquake, Umbrella Liability. also you could included Earthquake deductible coverage.
Various higher deductible.
*Subject to the provisions, conditions, definitions, limitations and exclusions as described in the policy wordings.
As an independent insurance broker, we shop on your behalf at our insurance markets that includes major respective insurance companies. We find best coverage with competitive price. Just please let us know what your needs are. We can customize your coverage, such as increasing the liability coverage to 5 million dollars or more.