For single-family rentals, duplexes, and small residential property. A house you rent out is not covered by a homeowners policy.
A rental property needs a landlord policy — often written on a dwelling fire form — covering the structure at replacement cost, your liability as the property owner, and loss of rents while the property is untenantable after a covered loss. A homeowners policy will not respond to a property you don't occupy, and continuing to insure a rental as your residence risks a denied claim at the worst possible moment.
Replacement cost on the building. Same principle as a homeowners policy — rebuild cost, not market or tax value.
Injury to tenants, guests, or others on the property. Consider higher limits than the default, plus an umbrella.
Rental income while the property can't be occupied after a covered loss. Frequently omitted and consistently the coverage landlords are gladdest to have.
Detached garages, fences, and outbuildings.
Appliances, window treatments, and anything furnished. Your tenant's belongings are theirs to insure.
Excluded on the base form and a common claim in older rental stock.
Most dwelling and landlord forms restrict coverage once a property has been vacant beyond a set period, commonly 60 consecutive days. Past that point, vandalism, glass breakage, water damage, theft, and attempted theft are typically excluded outright, and remaining covered losses may be paid at a reduced percentage.
Landlords hit this more often than they expect. A tenant leaves in October, the property sits through a renovation, pipes freeze in January, and the claim is denied on a vacancy provision the owner never read. If you know a property will be empty — between tenants, during a rehab, while it's listed for sale — tell us before the clock starts. Vacancy permits are available in advance and not retroactively.
Your policy covers the structure. It does not cover your tenant's belongings, and it does not pay for their temporary housing after a fire — a fact tenants routinely discover at the worst time, and then argue about with you.
Requiring renters insurance in the lease is inexpensive for the tenant, removes a recurring source of dispute, and adds a layer of liability coverage that can respond before yours does when a tenant causes a loss. Ask for proof at move-in and again at renewal; a requirement nobody verifies isn't a requirement.
Landlord coverage on a personal lines form works well for a house or two. Once you own several properties, or a small apartment building, or a mix of residential and commercial space, a commercial package written on a lessor's risk basis is usually cheaper, simpler to administer, and better suited to the exposure.
There's no fixed threshold — it depends on the property types and how they're titled. If you're carrying four or more separate dwelling policies, it's worth asking whether they should be one policy.
Licensed in five states. We write this coverage across North and South Carolina — our primary markets — as well as Tennessee, Virginia, and Florida.