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Importance of Being Insured with an Investment Owner/Landlord Policy

Landlord insurance papers on a desk. If you’ve ever bought a house, you probably know a little bit about homeowner’s insurance. Most of the time, this type of insurance includes damage to the home and personal items inside it, liability claims against the homeowner, and loss of use of the home because of an event that is covered. On the other hand, landlord insurance covers the unique risks that come with renting out a home. This includes damage to the property caused by the tenant, loss of rental income because of damage to the property or removal of the tenant, and liability claims because of injuries or property damage caused by the tenant.

Investment owner/landlord insurance protects you against the liabilities of renting out your property. If you own a rental property, landlord insurance may ensure that you are completely protected. Landlord insurance is designed for non-owner-occupied residences and covers features of your rental properties that other insurance policies do not cover. Some of the things that landlord insurance covers are:

  • Personal property owned by the landlord that is used to maintain or service the rental property, such as appliances or tools.
  • Liability coverage to help pay for medical and legal fees.
  • Property damage or loss of rental income caused by natural disasters, such as fire, storm, or flood.
  • Tenant-related risks, such as rent default, unauthorized alterations to the property, or theft by a tenant.


It is very important to look over a landlord insurance coverage in detail. If you know the policy’s terms, you won’t be surprised by fees or charges when you make a claim. Know what is and isn’t covered and if there are any limits or exclusions.

Landlord insurance premiums may be tax-deductible as an expense related to the rental property, allowing landlords to deduct the cost from their taxable income. However, the rules around deductibility can be complex and the amount can be limited by other factors. To determine if landlord insurance premiums are tax-deductible, it’s recommended that landlords consult with a qualified tax professional or refer to official IRS guidance.


We know how important it is to protect your investment at Real Property Management Midlands. We can help you find the right insurance coverage so that you and your residents are protected from the unknown. Our full-service Hopkins property management is made to keep your costs low, your earnings high, and your real estate investment safe for years to come. Contact us online or give us a call at 803-403-8838 to find out more about our property management services.

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