It doesn’t matter if you’re renting out your spare house or landlording as an investment venture, you need insurance protection. But the more you spend on insurance, the less you make. And making less is not ideal.
But here's the good news—our independent insurance agents shop and compare insurance policies and rates from a number of carriers. This means they can find the right coverage for your unique needs at the best possible price. Now, you’ll spend less on insurance, and make more. Problem solved.
But before we get too far ahead of ourselves, we want to give you a little intro about how insurance companies come up with the rates and costs that they do.
The great insurance oracles look through a long list of possible risk factors (things like size, location, etc.) and the associated costs for repair or replacement. Then, they add everything up based on your needs, tack on a bit of profit margin, and *abracadabra,* you’ve got a quoted insurance premium.
Now, for the most part, your rates will remain the same throughout the life of your policy. The only things that can really change it would be filing a claim, changes to your property’s value, or if the financial demands of the plan increase dramatically and cause the provider to raise it. Just a quick heads-up.
Landlord insurance is protection for landlords and their properties. If their rental property is damaged by fires, break-ins, accidents or other dangers—not including collateral damage due to epic superhero battles—they can recoup the expenses to get themselves back up and running.
Now, maybe you’re thinking, “Hey, that couple renting my beach house seems nice, I shouldn’t need insurance.” And if you are, think again. Even if they do seem nice, imagine they have another nice couple come over for a friendly game of Mahjong. If one of the visitors trips on a loose step, they can send all their medical bills your way. And that ain’t gonna be cheap.
If you still have any questions l about whether you need landlord insurance, talk to an agent. They’ll help you find the right answers, and peace of mind.
Landlording can be a great way to make some nice side cash, but it can potentially be super-costly, too. After all, you've got all kinds of strangers running around doing goodness-knows-what, the threat of angsty street vandals, and a whole lot more to worry about. So discuss your situation with an independent agent and they’ll help walk you through landlord insurance coverages to consider, like:
There are a number of factors that affect the cost of your plan, but when an insurance company is preparing your policy, these are the things they’re thinking about:
There are a number of different factors that affect the cost of your plan, but when an insurance company is preparing your policy, these are the things they’re thinking about:
Comparing policy rates by yourself can be complicated. There's tons of info and confusing words to digest. But here's where an agent comes in to save the day for you. They know everything that's important to consider when comparing rates and will help walk you through it all.
An independent insurance agent can make your life a lot easier—at least through this process. Since they're not tied down to one insurance company, they're free to shop, compare and assemble all the pieces of the coverage puzzle for you.
We know what you want—quick n’ easy landlord insurance quotes in under a minute. We get it, you want the lowdown, ASAP. However, choosing head-spinning speed could mean sacrificing accuracy...which could end up costing you.
Online companies might leave out options that'll save you some serious green, while conveniently leaving in factors that assume higher risk and calculate a pricier policy.
Our competitors might also sell your precious info to multiple companies, which could lead to a bunch of unwanted voicemails from unknown numbers. We grabbed the mic and gave it to YOU by providing the info and options to connect with an independent insurance agent when the time is just right for you.