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Types of Coverage Available

Investment property insurance policies can vary widely, so it’s important to understand the different types of coverage available. Typically, these policies offer:

• Property Coverage: Protects the physical structure of the building and any detached structures, such as garages.
• Liability Coverage: Covers legal expenses and medical costs if someone is injured on your property.
• Loss of Income Coverage: Provides compensation for lost rental income if the property becomes uninhabitable due to a covered peril.
• Additional Coverage Options: Some insurers offer coverage for specific risks, such as flood or earthquake damage, which are typically not included in standard policies.

To determine which policy best suits your needs, visit websites of reputable insurance providers and compare their offerings. This research can help you find a policy that not only meets your coverage requirements but also fits within your budget.