A Landlord’s Duty: Protect Your Rental Property and Your Tenants through Insurance
Landlords tend to get a bad reputation in popular culture. Despite the problematic nature of tenant-landlord relations, the dynamic doesn’t have to be tense. A landlord can balance protecting his property and looking after the tenants under his care through a Landlord and Rental Property Insurance.
Here are the following key advantages you and your tenants will get if you access this coverage:
Premises Liability Coverage – If your tenant gets injured in the premises and the liability falls on the asset itself, the insurance can cover medical expenses and compensation for bodily injury and personal injury.
Property Damage and Loss – Your rental property is your business but your tenant calls it home. If it gets damaged due to a disaster or it gets destroyed, it is good to know that payments for its repair and reconstruction will not come out from your or your tenant’s pockets.
Contents Damage and Loss - The furnishings you provided in your rental property also makes life convenient for your renters. If they get damaged or get stolen, life gets a little harder for them. Getting insurance means that you don’t have to worry about the contents of your property not being replaced or repaired.
Tenant Relocation – Should your property become unlivable, your tenants will be hard-pressed to go and find a home without help. Rental insurance has provisions to help your tenants relocate when something unthinkable happens to the property.
There are many plusses for the landlord if she gets insurance. Aside from the mentioned above, a landlord’s insurance also helps one recover from the loss of profit generation through coverage for business interruption. Your workers will also benefit from the accompanying Workers’ Compensation insurance in case they get into an accident while working at your property.
In case you need to get coverage for your rental, home, or commercial property in the key cities of Austin, Dallas, Houston, and San Antonio, Quote Texas Insurance is the right provider for you. If you want a custom package made for you, you only have to ask our friendly representatives. You can get in touch with us at our 844-402-4464 number or try leaving your contact details at the contact box on this page. We’d love to help you make your property a great place to live in for your tenants.
