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  • Writer's pictureNate Jones, CPCU, ARM, CLCS, AU

How to insure your rentals properly

by Nate Jones, CPCU, ARM, CLCS, AU - Wexford Insurance - Greenwood, Indiana

Having a rental property or properties can provide you and your family a nice passive income on a monthly basis. Making sure your rentals are insured properly is an important task is properly managing your rental property business. ​ Rental Property Insurance or also known as Landlords Insurance Coverage is similar to a homeowners policy but has a couple of differences that make insuring your rentals on Rental Property Insurance Policy the best option over the common homeowners form. ​ Key Differences with insuring your rental on a Dwelling Policy:

  • Loss of Rental Income: Under a Rental Property Insurance Policy, Loss of Rental Income will reimburse you for loss of rental income due to a covered loss at the premises that makes the property uninhabitable.

  • Dwelling Coverage: This coverage insures the house/apartment itself from similar perils like a homeowners insurance policy.

  • Coverage for the Landlords Personal Property: Any property that is stored at the rental that is yours. Lawn mowers, AC Unit, etc.

  • Vandalism Endorsement: This added coverage protects the landlord if a tenant causes deliberate damage to the home.

Examples of Rental Properties we currently Insure:

  • Single Family Home Rentals

  • Multifamily Home Rentals

  • Duplex

  • Triplex

  • Quadplex

  • Small Apartment Complex

  • Large Multi-Story Apartment Complex

  • Vacation VBRO Rental Insurance

  • Air BNB Rental Insurance

  • Condo Rentals

  • Hotels

  • Motels

Free Assistance: Wexford Insurance works with top insurance companies to provide you with affordable and quality insurance. We will never sell your information and our services are free of charge. Give us a call today at (317) 910-9295.

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