Landlord Insurance - Protecting Your Investments
Real Estate and Rental Property owners face unique risks and have assets that are important to cover that aren't included on a normal homeowners insurance policy. Another few commonly used terms for Landlord policies are also Fire Dwelling Insurance or Lessor's Risks.
Most landlord policies cover the building, loss of income, personal property, liability coverage, and much more. Many landlords should consider an umbrella policy for increased and unknown liability that could arise in the event something happens on their premises. It is also important to make sure you have enough coverage for your building as well as enough rental income so that your income from your properties continues in the event of a large loss.
Carlson & Associates provides rental property insurance in Northwest including Gig Harbor, Tacoma, Kent, Auburn, Port Orchard and all areas surrounding
Important Landlord Insurance Coverages
- Dwelling Limit (Rebuild Cost of Home)
- Other Structures (Any detached structures)
- Personal Property
- Loss of Rental Income
- Personal Liability
- Medical Payments to Others
- Ordinance or Law
Types of Rental Properties we Insure
- Single Family Homes
- Duplex, Triplex, and Quad
- Apartment Complexes
- Commercial Rentals (Lessor's Risk)
- Mixed Use Rentals (Business/Apartment Mix)
- Vacation Rentals (Airbnb, VRBO, Etc.)
Dwelling Coverage (Rebuild Value)
Property or Dwelling Coverage is the what pays to rebuild or repair your rental in the event of a catastrophe such as a fire or windstorm.
Coverage for secondary structures that aren't directly attached to rental home. These could include buildings such as detached garages, sheds, fences, awnings, etc.
Pesonal Property Coverage
You may have furnishings, appliances, and other property in your rentals. This coverage helps you replace these items in the event of a loss such as a fire, theft, water damage and many more.
Fair Rental Value Coverage/Rental Income
If your there is a covered loss to your rental property, this coverage insures that you will continue to receive payment for your loss of income from your tenant.
This coverage applies if someone is injured or their property is damaged and you are legally responsible. It covers the cost of damages and the cost to defend yourself.
Medical Payments to Others
This covers immediate medical expenses for guests that are injured on your property. It does not cover you or any of your household members.
Ordinance or Law
Covers cost due to change in municipal law or building codes that have changed from the time your structure was built. It covers the additional cost of this for any reconstruction or repair.
Landlord policies can differ drastically in pricing and the broadness in coverage by the type of policy form you select, the amount of coverage selected. and the type of home that you are insuring.
Everyone’s situation for insurance is unique so it is important to find insurance that fits your needs. One of our insurance professionals can help assess what your needs are and help design a landlord protection insurance plan that will protect you at an affordable cost.
I have been working with Antone Saltvick for the last 4 years and it has been a great experience. He helped me get more coverage than I had before at a better price. ... read moreMichael
Over the past 30 years I have had numerous brokers assist with my professional liability insurance needs. Larry Carlson is the first broker that takes the time to form relationships. I'm a firm believer that... read moreO
I've been a customer of Carlson and Associates since moving to Gig Harbor 5 years ago. I currently work with Antone who is fantastic! He listens to what we are needing in regards to policies... read moreLisa
Great experience dealing with Antone Saltvick for my business insurance. He came in with a better price with more coverage than any other agent I talked to. He was super responsive and quick to get... read morePaul
My husband and I own a small business and we have nothing but excellent things to say about working with Antone. He not only helped us with our insurance needs for the business but our... read moreElizabeth
Kevin Owens who is a broker at this agency is amazing with what he knows in regards to life insurance. It's obvious it's not all about him making money on a policy as he puts... read moreBecky
Kevin Owens is amazing! I was faced with one of my life insurances ending and they were going to charge me a quadruple monthly fee to continue. He took both of my... read moreRhonda
Awesome customer service! We had a fairly complex situation while changing auto plans and buying a new home. Antone was very quick to respond and provided everything we needed! Not to mention, saved us a... read moreAshley