Rental Property Insurance Insurance

Rental Property Insurance Insurance

Whether you become a landlord by moving out and renting your place or you buy a home or condo for investment purposes, you need insurance for your rental property. This is called landlord insurance

Know Your Rental Property Insurance Coverage
What can my Rental Property Insurance cover?
  • Dwelling Coverage
  • Other Structures
  • Landlord Personal Property
  • Loss of Rents
  • Liability
  • Medical Payments
What is likely excluded from my Rental Property Insurance?
  • Tenant Property
  • Tenant Liability
  • Flood, Seepage, Sewer backup
  • Earth Movement
  • Neglect
  • Nuclear Hazard
  • Intentional Loss
  • Governmental Action
Content is for educational purposes only and is not an offer of coverage. Please read and understand your specific policy coverage and exclusions.

Insurance Tips

What to consider when selecting your coverage.

  • Landlord Personal Property – appliances are personal property.
  • Do you have an HO4 for each tenant on file?
  • Multiple properties will qualify for multi-policy discounts.
  • Renovations to roof, electrical, plumbing, and heating will lower your insurance cost.
  • Can you retain more risk by selecting a higher deductible?

Claims Story

Chris was a new landlord insuring his first duplex. His duplex had hail damage in one of summer Minnesota storms. His roof was damaged by the storm and he received payment for a new roof on the duplex.

Lesson Learned

Chris was happy he selected replacement cost coverage for his duplex so he could replace his roof with a new one. If he hadn’t selected this endorsement he would have paid for half the roof ($5,000) out of pocket.

Why Choose Us?

If you didn’t update your homeowner’s policy after you moved out, you’re improperly insured. You’re looking at property claims denials and no coverage for liability claims. We have standalone landlord policies for individual home or condo. We also have programs where the landlord can schedule 10+ units on one policy.
Novallus Insurance Brokers is now Options Insurance. New Name, Same Team.
102 N Jonathan Blvd #210
Chaska, MN 55318
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