Landlord Insurance
in Georgia
Landlord Insurance
Insurance policies specifically for landlords and rental property owners.
If you own a rental property, homeowner’s insurance alone may not protect you from the unique situations that landlords face. Whether you have multiple properties or you are renting out your home or condo for vacation purposes, a Landlord Protection insurance policy may help protect you in a number of events.
What does Landlord Protection insurance include?
Landlords just do not own the home or condo being rented, they may own additional items or tools that tenants have access to, and some of these items may be covered by a Landlord Protection insurance policy:
- Dwelling/rental property
- Additional buildings on premise such as sheds or garages
- Equipment like tools, washing machines or other appliances used by tenant
Additional Coverage Options
There are additional coverage options that may be added to Landlord Protection insurance policy.
Legal Defense:
Landlords or rental property owners may also face legal ramifications for events that take place on the property they own. Having additional coverage for Legal Defense may help pay for legal fees from lawsuits like:
- Libel or slander
- Accidental Damage
- Wrongful eviction
Fair Rental Value:
If your dwelling is deemed uninhabitable or a total loss, you may not only need to repair or rebuild your property, you may lose rental income. Having Fair Rental Value coverage means that you may get reimbursed for your lost income during a covered event.
Extended Dwelling Coverage:
If your rental property or condo is a complete loss, a standard Landlord Protection insurance policy may not cover the entire cost to rebuild or repair the property. Extended Dwelling coverage may pay out an additional 25 to 50 percent of the standard coverage amount, depending on the policy.
FAQs
Do I need landlord insurance in Georgia if I rent out a property?
If you rent out a home or investment property in Georgia, a standard homeowners policy may not provide the right type of coverage. Landlord insurance is typically designed for rental properties and can help address risks associated with tenants and rental activity.
What does landlord insurance typically cover in Georgia?
Landlord insurance policies are generally designed to help protect the rental property itself along with certain liability exposures that may arise from renting it out. Coverage details can vary depending on the policy and the type of property being insured.
Why work with an insurance agent for landlord insurance in Georgia?
Rental properties can vary widely in terms of occupancy, property type, and risk exposure. Working with an insurance agent can help you review your options and choose landlord insurance in Georgia that fits your specific rental situation.