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What’s the Difference Between Landlord Insurance and Renter’s Insurance?

If you own a rental property, you understand the importance of protecting your investment. That’s why many people opt for landlord insurance. Landlord insurance offers a range of protections that can safeguard you in the event of a covered disaster. If you’re unsure about the differences between renters’ insurance and landlord’s insurance, it’s essential to understand the distinction!

At Completely Independent Insurance Agency, servicing Zionsville, IN, we’re here to help. We work with multiple carriers to help property owners find the best landlord insurance policy that meets their needs. We can also answer your questions about renters’ insurance and landlord’s insurance to help you choose the right type of insurance for your needs.

What Is Landlord Insurance?

For rental properties, landlord insurance is a type of coverage that protects the interests and liabilities of the property owner. If the home experiences a covered event, such as a fire or vandalism, the landlord’s insurance policy will help cover the costs of rebuilding. Landlord insurance typically does not cover the renter’s personal belongings, such as clothes and toiletries.

What Is Renter’s Insurance?

Renter’s insurance is a type of insurance policy that a renter holds. If a covered event occurs and damages the renter’s property, the renter’s insurance policy will pay to replace or repair items that belong to the renter, such as clothes and toiletries.

Why Should Property Owners Get Landlord Insurance?

As a landlord, your tenants depend on you to rebuild your property after it’s damaged. You also rely on your tenants to live on the property and pay their rent, so rebuilding is important. Landlord insurance can help.

Want to know more about getting landlord insurance for your rental property? Completely Independent Insurance Agency, servicing Zionsville, IN, can help. Call today to make an appointment.

Buying an Investment Property? You Need Landlord Insurance

Property ownership comes with the responsibility of protection, which applies to investment properties and your home. If you’re in the Zionsville, IN, area and seeking landlord insurance for one or more of your properties, partnering with Completely Independent Insurance Agency is a wise choice. We can help you find a policy that meets your needs, providing the coverage you want and expect so you can confidently invest in properties.

The Importance of the Right Insurance

Some people purchase investment properties and misunderstand the insurance requirements to protect them. As a landlord, you need specific insurance, and a standard home insurance policy won’t suffice. The goal is to ensure you have adequate protection for a property that isn’t your primary residence. Even if you already have coverage, it’s advisable to review and update it regularly to ensure it continues to meet your needs.

Working With an Agent Simplifies the Process

While you can choose coverage on your own, working with an agent makes it easier to find the right policy for your specific property and protection goals. You can continue to work with that agent to update your policy as needed, ensuring your property remains covered in the long term. Our agents are here to help you feel confident in your insurance and can provide you with quotes from multiple insurers, allowing you to choose what you feel comfortable with.

Choose Our Agents for the Support You Need

Contact us today at Completely Independent Insurance Agency if you’re in the Zionsville, IN area and looking for a landlord insurance policy. We understand the importance of taking good care of your properties, including having the right insurance.