If you rent out a piece of property, chances are you have a long list of things you need before someone moves in. Among the most important things you can do to protect yourself and your property is to get the coverage that you need in CT, MA, and NJ with a rental property insurance policy.
You should encourage your tenants to get their own renters insurance policy in order to protect their belongings, but as a landlord you should make sure you are prepared to cover things on your end. You are required to protect the structure and property with a landlord’s policy. Also known as dwelling fire insurance, basic coverage should include:
- The dwelling
- Attached structures
- Detached structures
- Personal property left on-site for maintenance or tenants use (such as appliances, furniture, lawnmowers, etc.)
- Rental income lost in the event of a disaster which leaves your tenants without a home
- Liability coverage for legal fees, due to injury claims, and medical expenses should a tenant or one of their guests gets hurt on the property
Whether it is a commercial property or personal property, 1 family or 4 family, it is equally as important to have the right rental property insurance policy with the proper coverage in Connecticut, New Jersey, and Massachusetts. At Encharter Insurance, we can also discuss potential discount options through the agency or carriers for an even more affordable policy.
One of our discounts includes the combine and save option. This means you could save big if you bundle policies such as your home or auto together with your rental property insurance. Ask an agent about other discounts you're eligible for as well.