If you’re a landlord, you likely receive a large segment of your income from your rental property. A regular homeowner policy isn’t enough protection for this type of investment. You need landlord insurance, which covers everything from one rental house to multiple apartment complexes.

This insurance protects your property in the event of unpredictable disasters, such as fire, storms, and vandalism. But unlike a homeowner policy, it also covers property damage from tenants. What if a tenant’s damage is more than the amount covered by their security deposit? Your landlord insurance means you won’t miss out on income while you work to make the property rentable again.

Landlords are at greater risk of liability than private homeowners. If someone is injured on your property and wins a legal judgment against you, your landlord insurance provides liability coverage that avoids having to use personal assets to settle the lawsuit.

There are other situations unique to being a landlord that are also covered with a landlord policy:

• Wrongful eviction: a tenant suing with a claim that they were improperly evicted or should not have been evicted in the first place
• Libel or slander: if you defame a tenant verbally or in writing
• Wrongful entry: entering a tenant’s property without appropriate permission

You can add additional coverage with ease. An umbrella policy, for example, extends your liability coverage. What if one of your tenants’ dogs bites a delivery person? Extra liability coverage protects from scenarios like this. Some landlords also elect to add flood insurance for coastal storm surges or earthquake insurance, a smart protection in Southern California.

Treat your rental property like the business it is with the right landlord insurance. Call us at 760-643-2100 or contact us online for a quote. We’ll help you figure out what coverage is best for your unique needs. At The Insurance Place, we are independent agents who are experts at working with landlords in the San Diego area. Our goal is to give you the protection and the peace of mind you need.

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