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Are you considering renting out your first property? If so, you are probably starting to go through the list of things you need to rent your property. You may be thinking I already have homeowners insurance; that box is checked. While you may have personal homeowner’s insurance, when you begin the process of renting your property, you need to check another box: landlord insurance. There are major differences between landlord insurance and homeowners insurance; join us as we decipher the differences.
Landlord insurance and homeowner insurance both are insurance policies that cover your home, but they differ in several areas. Let’s start with their definitions.
Landlord Insurance: A policy that protects the home you rent and provides liability coverage.
Homeowner Insurance: A policy that ensures your home’s structure and personal belongings in the case of a destructive event.
Let’s dive into the similarities and differences between the two different policies.
Once you have your landlord insurance policy, you are one step closer to being a landlord. Ferguson Property Management is here for all landlords who need that extra helping hand in renting out their property. When you partner with us, we take care of all your rental needs allowing you to lean back and enjoy passive income.
Take the first step into easy property management.
Contact us today.