Many homeowners become landlords at some point in their real estate ownership careers. Landlord Insurance

When they do, they often overlook a critical step: To replace their homeowner's insurance policy with a landlord insurance policy.

A homeowners insurance policy does not provide the same kind of protection that a landlords policy will.

For example, if the rental house burns down, the landlord will need protection for lost rental income but will need little protection for contents.

Most new landlords don't make the switch because they either don't know they need to or because they think the landlord policy will be more expensive than their homeowners policy.

Surprisingly, most of the time the cost of a landlord policy ends up less than the cost of the original homeowner policy.

Cameron Bagherpour
Home & Auto Insurance Agent
Cary, NC
919-460-0606

Cameron Bagherpour
Allstate Insurance Agent
150 Cornerstone Dr. #202
Cary, NC 25719
(919) 460-0606

 
Post is included in group: Commercial Real Estate
Post is included in group: Insurance 101
Post is included in group: Insurance Gurus
Post is included in group: NC Home Insurance
Post is included in group: North Carolina Real Estate

3 Comments on Landlord insurance or homeowners insurance?

AUG
05
2008
250,654 Points 2 Featured Posts Outside Blog

Cameron - I didn't know there was a difference in insurance!  We've thought about purchasing an investment home, thanks for sharing your tips.

12:17pm • #1
AUG
08
2008

One other thing to look out for is the people that acquired liars loans to get a better interest rate as a primary residence.  I am starting to see insurance policies with an exclusion clause if it is a rental property.  Make sure you are properly insured.

6:55pm • #2
OCT
10

If you own a home and live in it, then you would need a homeowner insurance. If however you own a home but do not live in it rather you have it rented out to a tenant, then you would be needing a landlord insurance.

Landlord insurance gives the best security to the property owners, who have rented their property. It is an even more important policy for the new property owners. If you have just invested in buy to let business, you may know well how much money you have spent for it. Now the landlord insurance is a must for you to ensure the safety of the property. A landlord insurance will give you the best security by covering any kinds of property damages.

http://www.onlyinsurance.com/Home-Insurance/

Jonathan Paul
6:24am • #3

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Cameron Bagherpour ~ North Carolina Insurance

Cary, NC

More about me…

Cary & Raleigh, NC Insurance

Address: 150 Cornerstone Dr. #202, Cary, NC, 27519

Office Phone: (919) 460-0606

Email Me

Home Insurance, Auto Insurance and other associated insurance info related to the buying and selling of real estate.


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