Compare Landlord Insurance

How to Find the Best Landlord Insurance

Getting the Best Rates and Coverage to Match Your Needs

Comparing insurance coverage for your rental property begins with an assessment of your needs. For example, if you are renting out a home because it is not the right time to sell, your insurance requirements are very different than if you own a large apartment complex.

Note that if you are renting out a home, your homeowners insurance will only provide coverage if you add a special endorsement designating the home as a rental. To accurately compare landlord insurance coverage from multiple companies and find the best policy for you at the best price, contact an independent agent in the Trusted Choice® network.

Trusted Choice vs. Big Brands

The Trusted Choice brand is built on the customer focused integrity of more than 300,000 business owners, agents and employees nationwide. With more local insurance agents than State Farm and GEICO, this network of agencies serves more consumers and pays out more claims

compare chart of the different insurance brands

Tips for Getting the Best Landlord Insurance Rates

  • Declare your buildings smoke-free and request a non-smoking discount from your agent.
  • Install a high-quality alarm system; tell your agent you have good security in place.
  • Request multi-policy discounts if you insure multiple properties through one company.

In addition to these measures, you can also work with your agent to find landlord insurance companies that offer a range of specific discounts. For example, you may be able to get a discount for installing an internal sprinkler system in your rental units that can douse a small apartment fire before it becomes a blaze.

How to Find the Best Landlord Insurance Companies

Insurance company rating systems can provide insight into which insurance companies are the most reliable and provide the best landlord insurance for your needs.

When evaluating landlord insurance companies, there are many different types of coverage you may want to consider. For example, if you know you want loss of income or loss of rent coverage, then you should make sure that the companies you are reviewing provide that coverage in the state where you need it.

Here are the steps to find the best landlord insurance companies:

  1. Find an independent agent who offers landlord insurance.
  2. Request a list of the companies the agent works with that provide landlord coverage.
  3. Review the companies to determine which ones have the features you are looking for. Add any additional criteria to the list. For example, if you have a high quality alarm system or automatic fire sprinkler system installed in your rental units, you may want to specifically find insurance companies that offer discounts for these items.
  4. Review the company ratings on the A.M. Best insurance rating site.

You can also simply ask your independent agent to perform the research for you and recommend the best companies with the best rates, company ratings, and so on. Because independent agents work with multiple insurance providers instead of just one, they can look for the best coverage for apartment and building complex owners while also looking for the best prices.

To compare landlord insurance from top companies, independent agents look at specific features and ratings of the companies they work with. The following chart shows an example comparison.

landlord insurance features and ratings comparison

Additional Questions for Landlord Insurance Company Reviews

When you are reviewing landlord insurance companies, some additional questions you may want to ask include:

  • Do they cover the cost of debris removal after an incident such as a fire?
  • Do they offer full replacement cost coverage or just depreciated value coverage?
  • If you occasionally rent a vacation home, does the company offer short term coverage?
  • If you have rentals in multiple states, does the company offer coverage in each of them?
  • Do they offer flood insurance?

To get started comparing the best landlord insurance companies, get a quote or find a member agent in our network now. An independent agent in the Trusted Choice network will be happy to compare rental property insurance quotes on your behalf.

Now, who's ready to get their insurance problems solved?