Rental Property Insurance
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What is rental property insurance, and why do I need it?
Rental property insurance (also called landlord insurance) protects property owners from financial losses due to property damage, liability claims, and loss of rental income. It’s essential to safeguard your investment against unexpected risks.
How is rental property insurance different from homeowners insurance?
Homeowners insurance is for owner-occupied homes, while rental property insurance covers homes rented to tenants and includes additional protections like loss of rental income and liability for tenant-related incidents.
What if I have more than one rental property?
We LOVE this question! Our carriers are ready to help you with as big or as small of a portfolio that you have! This is a great option we offer that allows the customers the simplicity of managing your properties all together!
What does rental property insurance cover?
A standard policy typically includes:
Dwelling coverage – Repairs or rebuilds from fire, storms, or vandalism
Liability protection – Covers legal and medical expenses if someone is injured on your property
Loss of rental income – Compensation if your property becomes unlivable due to a covered event
Personal property coverage – Protection for appliances, fixtures, and landlord-owned items
Do we cover Short Term Rentals?
Yes! We have carriers specifically designed to help you with all of your short-term rental needs!
What happens if my rental property is vacant?
Most rental property policies only cover properties that are actively rented or in between tenants for short periods (30-60 days). If your property is vacant longer, you may need vacant property insurance, which we can also help with!
Why choose Hutsenpiller Insurance?
Independent and Local: As an independent insurance agency, we work for you, not the insurance companies. This allows us to offer a wide range of options from multiple top-rated insurers, ensuring you get the best coverage at the most competitive rates.
Personalized Service: Our team takes the time to understand your specific situation and tailor insurance plans that fit your lifestyle and budget.
Experienced Agents: With years of experience in the industry, our knowledgeable agents are here to guide you through the insurance process, making it simple and hassle-free.
Community-Focused: We are proud to serve the residents of Tennessee, and our commitment to the local community sets us apart.
Rental Property Insurance Coverage
We offer the following options;
- Landlord Insurance – Protects rental property owners from damage, liability claims, and lost rental income.
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Loss of Rental Income – Reimburses lost rent if the property becomes unlivable due to a covered event.
- Liability Coverage – Covers legal and medical costs if a tenant or visitor is injured on the property.
- Dwelling Coverage – Pays for repairs to the rental’s structure after damage from covered risks like fire or storms.
- Tenant-Caused Damage – Covers accidental damage by tenants, but intentional damage is usually excluded.
- Vacancy Clause – Limits or excludes coverage if the property is vacant for too long (typically 30-60 days).
- Fair Rental Value Coverage – Compensates landlords for lost rent if the home is unlivable due to covered damage.
- Named Perils vs. All-Risk – Named perils cover specific listed risks; all-risk covers everything except exclusions.
- Replacement Cost vs. ACV – Replacement cost pays for new replacements; ACV deducts for depreciation.
- Rent Guarantee Insurance – Helps cover unpaid rent if a tenant defaults or is evicted.