Being a landlord is a tough job. Not only do you have to keep your own property in tip top shape, but you also have to worry about tenants having the same mindset toward the residence. From landscaping and plumbing, to late fees and taxes, a landlord has a difficult job.
One of the best ways to protect your rental property is to carry landlord insurance. This insurance protects you from financial disaster stemming from an incident that occurs on your property. Even a small slip and fall can spell tens of thousands of dollars in a lawsuit judgement, and landlord insurance can be there to help absorb the blow.
Whether you own a house, townhome, condo, apartment complex, or mobile home, landlord insurance is a wise investment. Even with risks you can't control, like severe weather events, accidents, or structural damage, landlord insurance can help.
Landlord insurance is a set of policies you purchase in order to protect your Alabama real estate. A typical landlord insurance policy in AL may resemble the following:
Tenant belongings are not covered by landlord insurance. Typically, landlord insurance covers only to the studs of the building, structure-wise. Any property belonging to the tenant will not be covered by the insurance policy. When enrolling a new tenant, it may be a wise idea to discuss the benefits of renters insurance. Renters insurance in AL can offer tenants liability coverage, property coverage, and even relocation coverage.
Landlord insurance costs vary greatly. When you're looking for landlord insurance quotes in Alabama, be sure to be familiar with the following:
All of these factors, plus more, will be taken into consideration in order to give you an accurate quote.
Just like the majority of insurance policies, landlord insurance offers subscriber discounts. When searching for landlord insurance quotes, be sure to ask about the following discounts to see if you qualify:
This list is not exhaustive, and every insurance company has different discounts, so be sure to ask about any discounts you may not be aware of.
Searching for a landlord insurance policy can be confusing - intricate wording, funny exclusions, and even getting the run-around. Trusted Choice® agents are always available to help you, from explaining policies and finding discounts, to suggesting coverage and even help with filing a claim. Trusted Choice wants you to get the best coverage at the best price.