Lost rent is the piece owners forget
If a fire or a burst pipe makes the property unlivable, the repairs are one problem and the months of missing rent are another. Fair rental value coverage responds to the second one, and it is the part most owners have never checked the limit on.
Liability follows the property
A tenant’s guest falls on the steps. A dog bites someone in the yard. The claim comes at the owner, not the tenant, and the limits on a landlord policy are what stand between that and your other assets. This is where an umbrella earns its place.
Tenants insure their own belongings, and often do not
Your policy covers the building, not their furniture. Requiring renters coverage in the lease protects them and removes an argument later — and most tenants are surprised how little it costs.
Also written here
- Rental dwelling policies
- Fair rental value / lost rent
- Landlord liability
- Short-term rental exposure
- Coordinating with an umbrella