Shield Your Rental Profits Gain Peace with Insurance
Types of Coverage Available
When considering rental property insurance, it's crucial to understand the different types of coverage available:
1. **Property Damage**: This covers physical damage to the property from events like fire, vandalism, or severe weather. It's essential to have comprehensive coverage to ensure repairs or replacements don't come out of pocket.
2. **Liability Protection**: This shields you from legal and medical costs if a tenant or visitor is injured on your property. Liability claims can be costly, and having this protection ensures you're not financially burdened.
3. **Loss of Rental Income**: If your property becomes uninhabitable due to a covered event, this coverage compensates for lost rental income during repairs2.