VDO of How "landlord insurance" works and why you need it - by "Tampa Property Management"
How "landlord insurance" works and why you need it - by "Tampa Property Management" Video Clips. Duration : 3.38 Mins.We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Personal Injury Protection. www.tampa-property-management.com Want to know how Landlord insurance works for you? Learn it from "Tampa Property Management". Successful landlords know, if you plan on renting your Tampa Bay property, you will need "landlord insurance". This insurance helps protect you from any financial losses associated with your rental property. If you're going to be renting your personal residence, you most likely already have homeowner's insurance. When you rent your personal residence, you will need to convert your homeowner's policy to a landlord policy. A landlord policy for your single family home or townhouse is called a "dwelling policy", for your condominium you usually need a "Rented to Others" rider attached to your your condo-owner's policy. Keep in mind though that landlord's insurance differs from homeowner's insurance in a couple areas: First, "landlord insurance" is typically less expensive than homeowner's insurance because there is no coverage for your personal possessions. Instead it covers things like lost rents if a covered hazard were to cause your tenant to vacate. For example, if a pipe were to burst in your rental and flood the property, thus, leaving it uninhabitable, your insurance will cover the damage. Not only will it cover the damage, but the rents you lost as well because you were unable to rent it during that time. Secondly, when purchasing landlord insurance there are two types to consider: "All-Risks" or "Stated Risks". It's recommended, however ...
0 comments:
Post a Comment