The main problems that face landlord insurance are the occurrence of accidental damages, liabilities from misuse of the property by the tenants and structural damages to the building.

Despite all these problems landlords insurance also has its benefits which include;

Investment protection 

Being a landlord means that the property which you rent is a business investment. So rather than being anxious about how your property will be treated under the care of the tenants, one can just insure their investment by getting landlord insurance.

Compensation for rent loss

If a tenant fails to pay the rent the landlord insurance policy can cover the loss of rent up to the maximum that had been agreed upon in the policy.

Quick repair of property

Upon a tenant damaging your property the amount of money that the landlord will pay for repairs will be compensated by the policy. This will help ensure that the property will be back to its former state.

Flexible payment options

The policy is also according to your payment plan such that one is comfortable with their payment options. Knowing how much one is going to pay per installment benefits them such that they are able to meet their obligations.

It’s suitable for an owner of a variety of properties

Costs are reduced when one takes on landlord insurance to cover more than one property. It is also a time-saving policy as one doesn’t have to manage different policies at the same time. Landlord insurance ensures damage to your property is repaired almost immediately.


This is an insurance policy specifically fashioned for occupants of rental properties. It covers a myriad of tenant needs. Some of the advantages of rental property insurance are:

Covers loss of belongings

Unlike landlord insurance which covers the place of occupancy, it covers any loss a person in a rental may incur during their stay. Rental property insurance also covers loss of belongings in the case of a break in. This eases the burden one has to replace stolen personal belongings.

Provides means for alternative accommodation

It also offers a sum for an alternative place of accommodation in cases where the insured is left homeless due to circumstances beyond their control. This, of course, is only until damages in their rental home have been fixed or the tenants find other accommodation.

Liability protection

One thing both insurance policies have in common is their provision liability protection. For instance, when a tenant is charged with negligence, the insurance covers the legal liabilities.

Medical payments

In cases where it can be proven that neither parties are at fault, the insured victim is covered for any medical expenses they may incur.

The disadvantages

For a landlord, rental property insurance would not cover his or her rental activities. Even the least conventional rental property insurance, won’t adequately cater for a landlord’s needs. Hence, landlord insurance is hence specifically fashioned to pander these exclusions. For instance, rental property insurance doesn’t guarantee rent if, for reasons such as flooding or a fire outbreak, a tenant vacates the premises.

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