Property investments can become a great source of income when you lease apartments or dwelling spaces to tenants, but they can also come with a lot of headaches. Even with your best intentions, you may not always be able to protect your units from natural disasters, tenant or visitor injuries, or damage to your units from theft or vandalism.

Your Exposures as a Landlord

If you rent out your property, whether you are operating a commercial venture like a hotel, student dormitory, or condominium or you lease out your second home or timeshare on occasion, you should consider the liabilities you face as a landlord. Your tenants have an expectation of safety and security from bodily harm or loss of physical property, but they are also counting on all the amenities to be in good working order.

Your Coverage as a Landlord

Habitational insurance addresses these key areas of habitational risk. In addition to paying for medical claims of injuries that occur on the property and assisting with structural repair or replacement for property damage, these policies can also be underwritten to include loss of rental income, environmental costs of claims associated with exposure to pollution, and the funds needed to address equipment breakdowns.

There are unique risks associated with the different variations of rental properties. Talk to a broker specializing in this coverage to make sure your plan will address the areas where you face the most exposure.