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Differences Between Landlord Insurance and Renter’s Insurance

For landlords and tenants in Zionsville, IN, figuring out what type of insurance you need can get complicated. Our team at Completely Independent Insurance Agency is here to ensure that you – whether you live in rental properties or own rental properties – don’t get the wrong kind of insurance. One of the most common confusions new landlords have about insurance is what policies would be appropriate for their needs. If you’re a new landlord or a seasoned landlord, our general information about these insurance policies can help you understand what makes each one unique.

What Is Landlord Insurance?

Landlord insurance is designed for landlords who want to protect their properties from damage, liability, and other concerns. It may be legally required in some areas, but even when it’s not necessary from a legal perspective, it’s smart to have it from a practical perspective. As a landlord, your income from rentals may support your lifestyle or family so it’s important to protect it with the right policy.

What Is Renter’s Insurance?

Renter’s insurance is for tenants to protect their belongings and cover qualifying damage in the rental unit. While every policy is different, some renter’s insurance policies may protect belongings against theft or cover expenses related to qualifying disasters.

How Are They Different?

Renter’s insurance is for tenants who rent apartments and houses. On the other hand, landlord’s insurance is for landlords and property owners. They cover different things in terms of damage, liability, and other aspects of the landlord-tenant relationship. 

Consult With Us

To learn how our team of professionals can help you protect your rental property in Zionsville, IN, call our team at Completely Independent Insurance Agency. You can also stop by our office to speak with one of our landlord insurance professionals.