Insurance Requirements

Landlord Insurance

We require and you need to have insurance for your property even though you are not living there. Call your insurance agent and let them know you will no longer occupy the property as your primary residence. You will need to ask them to change your homeowner’s policy to a “Landlord” policy. This is VERY important, or the insurance company can deny any claim if you are no longer occupying the premises.

We ask that you list us as an additional insured party on the policy so that we can file claims on your behalf. A vandalism rider is usually required if the house is vacant for more than 30 days so please keep this in mind during the time we are marketing your property for rent.

If you own a condominium, be sure to have your own policy. It is very reasonable and will typically cover liability expenses such as water overflowing and damaging the unit below -is the most typical claim for condos.

Flood and earthquake insurance is not typically included in a standard policy. Please review these optional coverages with your agent to be sure your investment property is properly insured.

Tenant Insurance

In addition to the insurance you have for your property, the lease requires tenants to have Tenant Liability Insurance. This coverage ensures that your property is covered by the tenants insurance for specific damages due to tenant negligence or accident. This insurance would be in addition to a “renters policy’ which only covers a tenant’s personal property.