Personal insurance
If you own a rental home or unit, start with the property type, occupancy, location and questions you want answered. Eligibility and terms depend on the property and policy.
Understanding your options
A rental property creates different insurance questions from an owner-occupied home. Landlord coverage can address the owner’s building and liability, with terms that depend on the property, occupancy and policy.
Coverage, eligibility, limits and exclusions depend on the insurer and policy. Review the actual policy documents before making a decision.
A closer look
A landlord policy may provide separate coverage for the building, other structures, the owner’s property and liability. Loss-of-rent coverage, when included, is subject to the policy’s covered-loss, time and dollar limits. A tenant’s belongings generally require the tenant’s own coverage.
Explain the number of units, vacancy, renovations and whether a property is rented long-term or to short-term guests. These facts can affect eligibility and policy terms. Ask how vacancy, maintenance, water damage and flood are treated; routine wear and maintenance are not the same as a covered loss.
Bring the address or ZIP, property type, construction and occupancy details, and any lender requirements. Compare building valuation, deductibles, liability and available loss-of-rent terms. Cost depends on the property, its use, the insurer and the coverages selected.
Before you reach out
Common questions
A landlord policy may offer separate building, owner’s property, liability and loss-of-rent coverages. Each has its own terms and limits. Loss of rent generally depends on a covered loss and is subject to the policy’s conditions and time limits.
Tell the insurer about the number of units, tenant occupancy, vacancies, renovations and lease length. Review building valuation, deductibles, covered causes of loss, liability and any vacancy or short-term rental restrictions.
A landlord policy generally protects the owner’s property and interests, not a tenant’s belongings. Tenants can consider their own renters policy and should check its terms.
Do not assume an owner-occupied homeowners policy covers a rented property. Tell your insurer how the property is used and ask whether an endorsement or a separate policy is appropriate.
Not necessarily. Texas Department of Insurance guidance says landlord insurance is mainly intended for traditional long-term leases and may not fit short-term rentals. Explain the rental arrangement and review the policy before accepting guests.
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