Landlord Insurance in Idaho

Experts break down landlord insurance costs, coverage, companies and more in Idaho.

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Nearly 2 million people live in Idaho, with about 30 percent living in rental homes. If you own a rental property in Idaho, you need to ensure that your rental property has protection against disasters, severe weather, fire, or theft that could leave you in a financial bind. You also need to protect your assets if you are sued for negligence.

Landlord insurance in Idaho protects your rental properties with property coverage and liability coverage. A local independent insurance agent can help you get quotes from multiple insurance companies in Idaho, so you can find the policy that best meets your needs and budget.

What Is Landlord Insurance?

Landlord insurance is similar to homeowners insurance in that it protects your property in the event of a fire, storm damage, or other covered perils. The difference is that landlord insurance is designed to specifically protect landlords in their unique situation, such as preserving the building but not the personal property of the tenants, as well as covering loss of rental income and the increased liability risks that landlords face.

How Much Does Landlord Insurance Cost in Idaho?

Owning a rental property can sometimes be riskier than owning a private dwelling. For that reason, some landlord insurance policies may cost more than traditional homeowners insurance.

But the cost of landlord insurance can vary considerably based on your unique property and set of risk factors. Some of the factors that will affect your landlord insurance costs include:

  • Your geographic location and the crime and weather risks for your location
  • The age, size, condition, and construction of the building
  • The number of rental units
  • Whether you allow smokers to rent from you
  • Whether your complex has a swimming pool
  • The type and amount of coverage you are purchasing
  • Whether you have fire sprinklers, burglar alarms, gated access, or other security systems installed in complex and rental units

Your best bet is to work with an independent insurance agent who can get quotes from multiple insurance companies. You can compare costs and coverage and choose the landlord insurance policy that offers the best fit.

What Does Landlord Insurance Cover in Idaho?

Landlord insurance in Idaho provides property insurance for the building itself and any other structures such as a garage or shed for any physical damage caused by fire, lightning, wind, hail, ice, snow, or other covered perils. It also offers coverage for any personal property you may have on the property (e.g., maintenance equipment, appliances, etc.), but it will not cover your tenants’ possessions.

A landlord insurance policy in Idaho also includes landlord liability coverage. It protects you if someone is injured on your property or if you are responsible for damaging someone else’s property (e.g., a tenant’s or a visitor’s property). Landlord liability insurance covers the costs of any medical treatment or property repairs required. It also covers legal costs (e.g., attorney fees, court costs, and financial settlements or judgments).

Loss of rental income is also an important component of landlord insurance in Idaho. If a fire, storm, or some other covered peril damages your rental property, you may be able to receive coverage for your lost rental income if your tenants have to move out for you to make repairs to your building.

Other types of optional coverage may be available, as well.


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Can a Landlord Require Renters Insurance in Idaho?

Your tenants are not required by Idaho state law to purchase renters insurance. Even you, as a landlord, are not legally required to purchase landlord insurance. Although if you have a mortgage on your property, your lender will require it.

But landlords in Idaho can require tenants to purchase renters insurance. If you want to require your tenants to have renters insurance, it must be spelled out as part of the lease agreement, with specific tenant responsibilities and the consequences of not providing proof of insurance made clear.

Does Landlord Insurance Cover Tenant Damage in Idaho?

Landlord insurance does not cover your tenants’ personal property. What’s more, damage to your building that is caused by tenants is not always covered by your landlord insurance in Idaho.

Typically, landlord insurance in Idaho will cover sudden and accidental damage caused by a tenant. If, for example, the tenant accidentally causes a kitchen fire, any damage to walls, countertops, cabinets, and other covered parts of the building should be covered by your landlord insurance. Damage to your tenants’ furniture, cookware, and so on, will be covered by their renters insurance, if they have it.

If something like an appliance were to be damaged in the fire, it would likely be covered under the landlord insurance policy. If an appliance breaks due to normal wear and tear, coverage would not be available under a typical landlord insurance policy in Idaho.

Keep in mind that intentional damage by a tenant will not be covered by landlord insurance in Idaho. Standard landlord insurance policies can’t protect you if your tenant punches in a wall, kicks in a door, or otherwise intentionally damages some part of a unit. You may, however, be able to purchase additional vandalism coverage that covers some kinds of intentional damage to your building.

What Are the Best Landlord Insurance Companies in Idaho?

Local independent insurance agents make comparison shopping for landlord insurance easy. They can obtain quotes from the best landlord insurance companies in Idaho, and ensure that you’re getting your policy at a competitive price.

Why Shop Landlord Insurance with an Idaho Independent Insurance Agent?

Instead of getting an online quote, find an independent insurance agent now, and get a one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you a variety of options so you can make the best choice. 

What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.

Contact an agent today for a free, no-obligation consultation.

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