Connecticut is a beautiful state with an active economy. It has the one of the highest costs of living in the nation, along with the highest per capita income in the country. Whether you own an apartment complex, townhouses or houses in Connecticut, landlord insurance is a must to ensure that you protect your investments. Before you decide on a specific policy, you probably want to contact a local agent for information and to get quotes from reliable insurance companies.
Living in Connecticut is expensive, and, as a landlord, you want to have an attractive, safe property for potential tenants. Having landlord insurance is a safety net for you in case of fire, vandalism, damage or injury.
Landlord insurance can include as much or as little as you need. There are many different types of coverage available so you can be sure that your property is covered:
Being a landlord can be a difficult job, and keeping a property safe and free of hazards seems next to impossible. If someone slips on an icy sidewalk or a hailstorm breaks a window and destroys priceless artwork, having insurance to back you up can make the difference between a quick claim and a costly lawsuit.
Landlord insurance does not cover damage that tenants do to their own assets. Many times, tenant insurance is termed "from the studs in," meaning it covers everything from the studs to the interior of the apartment. Your landlord policy should specify what it does and does not cover plainly and clearly in your rental agreement.
There is no average cost for landlord insurance, as each landlord requires different coverages and policy limits. However, your insurance company will consider the following when quoting you a price for landlord insurance:
Insurance companies consider all these factors when calculating a quote to be sure you have adequate coverage for whatever comes your way.
One quick search of the Internet isn't going to give you an adequate picture of the level and cost of coverage you should get. In order to compare landlord insurance rates successfully, first, you need to decide what protection amounts you need. For example:
Once you get a clear idea of the coverage you need, you can more adequately compare rates between insurance companies.
Being a landlord is a tough job. But finding the right insurance for yourself and your properties shouldn't be. A Trusted Choice® agent is always available to help you review your current coverage, help you add additional coverage and even help you file a claim.
Contact your local Trusted Choice agent for landlord insurance information and quotes.