What is Landlord Insurance?

Who Needs Landlord Insurance?

Anyone who owns a property and rents it out. Whether it’s a recent purchase, or you’ve been renting it for years, having Landlord Insurance is just a smart financial choice. At PSIC, we believe every owner should count on some extra peace of mind when renting their investment property.

Is Landlord Insurance Required by Law?

No, it isn’t, but your mortgage lender may ask for it. While the state doesn’t mandate it, your lender typically requires Landlord Insurance to protect their investment (and yours too!). It’s quite important to keep your investment property safe and secure regardless of what’s mandatory.

PSIC is here to help you meet those needs with a robust Landlord Insurance policy that ticks all the boxes.

What Does Landlord Insurance Cover?

Landlord Insurance typically protects policyholders against property damage, liability claims, loss of rental income, and certain additional expenses. There are two types of Landlord policies: DP1 and DP3. The last one offers more comprehensive coverage.

What Is Not Covered in Landlord Insurance?

Landlord Insurance does not cover your tenant’s belongings or their liability, it also doesn’t protect equipment or appliance malfunctions. That’s why tenants need to obtain their own Landlord Insurance coverage to keep their assets and themselves safe and let landlords address structural dwelling issues separately.

How Much Is Landlord Insurance?

Landlord Insurance costs vary based on factors like location, home value, and coverage needs. We can’t pinpoint an exact price here, but PSIC offers competitive rates and Landlord Insurance discounts that make protection accessible.

Moreover, there are many optional add-ons you can include in your policy, affecting its final price. Everyone has their own particular needs, and at PSIC we’re ready to help you make your Landlord Insurance policy fit your needs. We recommend that you contact a producer and get more details.

Where Does PSIC Offer Landlord Insurance?

We currently offer Landlord Insurance in the states of Arizona, California, Connecticut, and New Jersey. To learn more about how you can customize your policy please select your state.

We plan to expand our Landlord Insurance coverage nationwide soon, ensuring all owners the benefit of our reliable insurance solutions.