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Property Management Blog

What Kind of Insurance Should Landlords Get? Brentwood Rental Management Advice

System - Wednesday, May 18, 2016

When you become a landlord, you need adequate insurance coverage that will take care of your investment property and protect your financial interests. Some landlords feel like they have the reputation of being wealthy landowners who are taking advantage of defenseless tenants. We recommend that you work with a good insurance agent who can keep you protected.


Renter’s Insurance

You should require your tenants to get a tenant policy, which covers their belongings and any of their own liability. Ask that their policy include you as an additional insured. This will give you some extra protection that you need.

Landlord Policy

When you purchase a landlord policy, make sure it covers your building structure as well as your own liability. You don’t need anything that will cover a tenant’s personal possessions because that is the tenant’s responsibility. It’s important that you have an all risks provision in your policy and that you are covered for anything that might happen.

Lost Rent Protection

Protection against lost rents protection is very important. Some agencies automatically provide it but some don’t. Make sure it’s included in your policy in case something happens that affects your rental income. For example, if mold is discovered and during the period of cleaning and repairing the tenants have to move out, you aren’t collecting rent. Make sure your lost rent is covered so you get your rent paid even though the tenant is not in the property.

Liability Coverage

What Kind of Insurance Should Landlords Get? Brentwood Rental Management AdviceTake a look at your liability coverage. For just an additional $20 or $30 a year, you can go from the standard $300,000 policy to a million dollars in coverage. That’s well worth the cost. You also need to make sure you have coverage for any damage that’s caused by your tenants. Ask your insurance agent about an umbrella liability policy.

Our last recommendation is that you sit down every other year and review your policy with your agent. Get good service from your agent and make sure your insurance serves your needs. We are not insurance agents, but if you have any questions about what you need, please contact us at Select 1 Realty.


Select 1 Realty

1500 A Street, Antioch, CA 94509
Antioch 925.706.9000
Brentwood 925.308.7311
Fax: 925.706.7735
Toll Free: 800.887.3532
Email: info@select1realty.com
BRE #00791162
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