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Fair rental value, also known as rent guarantee insurance or fair rental value coverage, is a component of Landlord insurance that protects homeowners in the event that their property becomes uninhabitable due to a covered event, such as a fire or a flood, while repairs are being made.
In such situations, the owner may experience a loss of rent, as they are unable to collect the rental income they would normally receive. Fair rental value coverage helps to mitigate this loss of income by providing compensation.
It is important to note that fair rental value, also referred to as coverage D or FRV, typically has specific limits and is subject to a maximum time frame for which compensation for the loss of rental income will be provided.
At PSIC, we ensure that your rental property is protected and your investment is secure. That’s why we offer fair rental value coverage. This protection includes a wide range of potential risks.
This policy covers your rental home in case it needs repairs or reconstruction due to theft or weather damage such as wind, fire, and fallen trees.
Our coverage for lost rental income can help compensate you if your property is unable to be occupied due to a covered event, reducing the financial impact.
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Copyright © 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. 150, Anaheim, CA 92807, License 0K06900 / National Producer No. 17486061 The insurance policy, not the contents of this website, forms the contract between the insured and the insurance company. The policy may contain limits, exclusions and limitations that are not detailed on this website. Coverage may differ by state.
