What is Rental Property Insurance?
California landlords invest a lot in their properties, and those investments ought to be protected when possible. Rental property insurance can help landlords protect their properties and themselves from a variety of potential risks.
Rental property insurance is specialized property insurance for landlords. In order to give landlords protection against multiple risks, these policies usually come as package policies that combine several coverages together.
Who in California Needs Rental Property Policies?
Most landlords in California, including both individuals and businesses, probably should carry rental property policies. Leasing residential, commercial or industrial space comes with certain inherent property and liability risks, and this tends to be the most appropriate type of insurance for leased properties.
For landlords who have more than one property, a multiple rental property insurance policy is likely the most appropriate type of policy. Multiple rental property insurance may be suitable for properties that are adjacent to one another or in different locations, so long as they’re in the same state.
An insurance agent who specializes in these policies can help find a standard or a multiple rental property insurance policy that’s good for a given property. It’s often necessary to consider not only a property’s location, size, etc., but also how the property is primarily used.