Rental Property Insurance Requirements
Homeowners and rental property insurance are similar but they have important differences. A rental property policy is written specifically for a tenant-occupied (vs. owner-occupied) unit. So you’ll need to switch to the correct type of policy to cover possible property damage from renters. While we’re fully licensed and bonded with general liability insurance, we cannot legally work at your property without being added to your specific policy as an additionally insured party. This is for liability coverage only and should not cost you anything extra. Once you make this simple switch to your insurance, you need to provide us a copy of your policy showing us listed as additional insured.
Good news is that the cost of a rental policy is usually less since it won’t need to include your personal property. Making the switch is super quick too (usually just a 15-minute phone call), with no paperwork or signatures required. And if paying through an escrow account, your policies will just swap out and shouldn’t greatly affect your monthly payments.