Landlords face unique risks that require specialized insurance protection. A Landlord Package Policy covers various potential losses and exposures, ensuring comprehensive coverage for rental property owners. Some examples of the covered risks include loss of rental income due to an insured loss, buildings with single or multiple units, diverse residential or commercial occupancies, legal liability arising from tenant activities, and protection against uninsured or under-insured repairmen.
While the primary purpose of Landlord Package Insurance is to safeguard rental property, it should also provide sufficient insurance limits to protect landlords' other assets from legal liabilities related to rental activities. Although renting residences is a business activity, some insurance companies may treat the rental of four or fewer units as a personal insurance matter.
For any inquiries about Landlord Package Insurance or to receive a free review and insurance quote, get in touch with an insurance agent at United Heartland Insurance Agencies today. As an independent insurance agency, we work with multiple top-rated insurance companies, offering the flexibility to find the right coverage with competitive premiums for landlords and their businesses.
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