Rental Property Insurance in Katy, TX

If you own a property that you rent to others, having proper insurance is a must. Rental property insurance, or landlord insurance, is a vital component in protecting your investment from common perils.

What Is Landlord Insurance?

Landlord insurance is coverage designed for owners who rent out their property. Policies can be tailored to the specific property, such as an apartment complex, a duplex or a single-family home. 

How Does It Differ From Homeowners Insurance?

Landlord insurance and homeowners insurance both financially protect property owners, but they serve different purposes. Homeowners insurance is for owner-occupied homes and may cover the structure, personal belongings, liability and additional living expenses if the home becomes uninhabitable.

In contrast, landlord insurance also covers the building structure, but it can additionally cover liability related to tenants and loss of rental income due to covered damages. It does not cover tenants’ personal property. If you do not live in the home, homeowners insurance will be insufficient for your needs.

Do I Need Landlord Insurance?

Landlord insurance is not typically required by law; however, some mortgages may require it. Moreover, it can be a wise decision for anyone renting their property, given the inherent risks and liabilities involving tenants.

Even if you live in your home and rent out portions of it to others, you may still benefit from landlord insurance. This includes temporary landlords, such as Airbnb hosts, who may want to secure rental property insurance as an additional financial protection.

TS Insurance can help assess your unique situation and discuss whether landlord insurance or other solutions may suit your needs.

How Do I Know If My Insurance Is Enough?

Consult with TS Insurance to ensure you have the right insurance for your rental property. Contact us today to set up a time to speak, with no obligation.