What is Landlord Protector Insurance?
Landlord protector insurance is designed to protect property owners who rent their properties to other people as primary residences. Landlords face unique and significant liabilities and risks in making their properties available to tenants. Landlord protector insurance isn’t required in a couple of states, but property owners nevertheless have certain legal responsibilities to their tenants.
Do You Need Landlord Protector Insurance? You’re Covered with Woods Insurance
If you’re a landlord, this insurance will help you satisfy your legal obligations to people renting your property if an unexpected disaster or accident occurs. Your rental holdings represent a significant investment on your part, and landlord insurance is a must for protecting it.
Insurance Policies Tailored to Your Needs
When you purchase landlord insurance from Woods Insurance Agency, you have considerable flexibility regarding customizing your coverage. An important part of our job is helping you understand all the aspects of proper coverage. We’ll review all your risks and liabilities with you and thoroughly address all your questions. We want you to make educated decisions regarding suitable coverages for you, your properties, and all your tenants.
What Does Landlord Protector Insurance Cover?
A Woods Landlord Protector Insurance policy covers a wide range of protections:
Building coverage protects various buildings and structures on the property itself. In addition to tenant buildings, other covered structures can include garages, storage buildings, swimming pools, fences, retaining walls, and other structures.
In addition, building coverage also protects any of the landlord’s personal property they may use to maintain and/or service the property.
Liability coverage protects you, the property owner, from liability claims arising due to bodily injury and property damage suffered by tenants.
Loss of Income Coverage
It’s entirely possible that, in an emergency, you could be obliged to suspend operations of your rental property temporarily. If that happens, loss of income coverage reimburses the property owner for lost income during said closure.