A Guide to Landlord Insurance in Florida

If you are renting out your home or investment property, or are thinking of doing so, you need to be sure that you have the correct insurance coverage in place should you need to make a claim.  Unlike regular homeowner insurance policies, Landlord insurance is designed to protect again specific tenant related issues that can cause damage to your property or loss of income.

Your homeowner insurance may be invalidated if you make a claim without advising them that it is tenants who live in the property, and you could, therefore, be liable for the whole amount of any claim.

Landlord Insurance offers reliable, superior protection against the pitfalls of being a landlord.  Whether you are renting out your own home or buying property as a long-term investment, there will be the right landlord cover to suit your requirements.

What Is Landlord Insurance?

Landlord insurance is a specific type of property insurance that protects landlords against any potential liability caused by tenants.  It is generally a requirement for any type of investment property and offers additional protection for anyone who rents out their own home while they are away long term.

While this type of coverage can be as much as 20 – 30% more expensive than a standard homeowner policy, it offers additional coverage against loss of rental income and tenant liability that is priceless should the worst occur.

What Type of Cover Does Landlord Insurance Offer?

Landlord insurance in Florida covers a certain amount of expenses that may be incurred if your tenants do not take care of your property as well as they should do.  No matter how many upfront checks you undertake, some tenants will still have little regard for your property or belongings.  Your landlord insurance will cover accidental damage to help you with this.

You will also receive coverage for unpaid rent. If your rental properties are your livelihood you will rely on the monthly rent to cover other expenses. Not receiving your rent money can quickly present you with a problem.  Landlord insurance will help with this by covering your loss of rent.

Finally, Landlord insurance also covers against some of the more common problems that face homeowners of all kinds.  If your home or rental property is damaged or destroyed when disaster strikes, your coverage will help you get back on your feet.  Likewise, if your property is broken into, your items will be replaced.

Landlord insurance should also cover the cost of repair or replacement of appliances such as, washing machines, microwaves, refrigerator, dryer, etc., that are being used by your tenants while they occupy the property.

Who Can Purchase Landlord Insurance

If you are the legal owner of a property that is being used as a rental, you are entitled to landlord insurance coverage.  This includes apartments, houses, and condos across the state of Florida.

Is Landlord Insurance Expensive?

While Landlord insurance can cost more than regular homeowner insurance, the benefits far outweigh the additional costs.  The exact cost of any landlord insurance policy will be calculated using several different factors, in the same way, that insurance providers calculate regular homeowner insurance rates.

Landlord Insurance From The Sena Group

If you are looking for first-class comprehensive landlord insurance in Florida, speak to our helpful insurance agents today at 561-391-4661.

 For more information about how The Sena Group can help you with any

of your insurance needs, please contact us at 561-391-4661.

We can be found on Social Media at the following links.

The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487