Landlords have a lot on their plates. From qualifying and interviewing applicants to maintenance and security, being a landlord can be a tough job. In Montana, over 32 percent of residents are renters. If you're a landlord in the Treasure State, it's important to protect your rental properties to ensure your continued success and financial security as a landlord.
Renting property creates a host of concerns that typical homeowners don't share. From keeping the grounds tidy and hazard-free to ensuring a peaceful, secure space, many landlords struggle to keep everything under control. Whether you own one rental space or ten, it's important that your property be protected with landlord insurance. If an accident or incident occurs, you may be held liable - and even a slip-and-fall lawsuit has the potential to cause big financial troubles. But with landlord insurance in place, you can have peace of mind, knowing that whatever life throws your way, you're covered.
Landlord insurance resembles homeowners insurance. Many landlords are also homeowners, so the following coverage types will probably be familiar. However, it's important to know the differences between a landlord policy and a renters policy. A typical landlord insurance policy in Montana can cover the following:
A renters insurance policy is also advisable for most renters, and as a landlord, it's a wise idea to ask your renters to carry this insurance. A renters insurance policy can cover the tenant's property from damage or destruction stemming from fire, wind, rain, or other covered incidents.
Some landlords may need coverage outside of the most typical types available. To get a wider array of coverage, ask about an insurance quote for the following:
A landlord insurance quotecan vary greatly depending on a number of factors, including the following:
These factors, plus many more, will be used in order to get you the most accurate insurance quote possible.
Just like many other insurance policies, many discounts are typically available on landlord insurance policies. The discounts may include:
Each insurance company offers different discounts, so you may qualify for different discounts with different carriers. The best way to figure out which discounts you qualify for is to get a landlord insurance policy quote.
Whether you're just deciding to purchase landlord insurance, or you're looking to switch carriers, Trusted Choice® can help. Trusted Choice agents are always available to assist you with finding coverage, modifying limits, or even filing a claim.