Dwelling fire and landlord policies for single-family rentals, duplexes and small multifamily — including the loss of rents and vacancy issues that catch owners out.
A homeowners policy assumes the owner lives there. Once tenants move in, the exposure changes in ways that policy was never written for, and carriers treat it as a different product — a dwelling fire or landlord policy.
Keeping a rental on a homeowners policy is one of the more common and more expensive mistakes a property owner makes, and carriers generally treat it as a misrepresentation of how the property is used. At claim time the carrier asks who lives there, and the answer decides whether the policy responds at all.
The building. Structure, built-in systems, and usually detached structures like a garage or a shed. If you also own the home you live in, that is a separate homeowners policy.
Your property at the location. Appliances you supply, lawn equipment, tools kept on site — tenant belongings are the tenant's responsibility, which is why requiring renters insurance in the lease matters.
Liability. Injuries to tenants, guests or passers-by that you are legally responsible for. This is the coverage that matters most, because tenant injury claims are where the large numbers come from.
Loss of rents. If a covered loss makes the unit uninhabitable, this replaces the rent while it is repaired. Owners consistently underestimate how long a serious repair takes — six to twelve months is common after a fire.
Medical payments for minor injuries, which can settle a small incident without a liability claim.
Replacement cost versus actual cash value. Many landlord policies default to actual cash value, which depreciates the building and the roof. On an older rental the difference between the two settlements is enormous. Ask which basis yours uses — owners are often surprised.
Ordinance or law. Older rentals frequently cannot be rebuilt to the code they were built under. This coverage pays the upgrade cost, and on a property from the fifties or sixties it is not optional.
Water and sewer backup. Excluded without the endorsement, and a finished basement in a rental produces exactly this claim.
Wind and hail deductible. Often a percentage of the building limit rather than a flat amount, same as a homeowners policy. Work out what yours is in dollars.
Most property policies restrict coverage once a building has been vacant beyond a stated period, commonly thirty or sixty days, though the exact term and what it affects depend on the policy form. Vandalism, theft, glass breakage and water damage are typically excluded first, which is unfortunate since those are exactly what happens to empty buildings.
If a unit will sit empty between tenants, during a renovation, or while a property is listed for sale, tell us. Vacant property coverage exists and is far cheaper than an uncovered loss.
Renovations. A property under significant work may need builders risk coverage rather than a standard landlord policy, particularly if it is unoccupied during the work.
Short-term rentals. Renting through a platform is a business use and most landlord policies restrict or exclude it. The platform's own protection is rarely as broad as owners assume. Tell us if a property is used this way.
More than one property. Several rentals can usually be written on one policy, which is simpler and often cheaper than separate ones. Once you own a handful, an umbrella over the portfolio is usually the single best value on the schedule — more on umbrella coverage.
Your policy does not cover tenant belongings, and a tenant without coverage who loses everything in a fire frequently looks to the landlord. Requiring renters insurance costs them around $125 a year and removes a recurring source of disputes.
We write renters policies too, so tenants can be sent straight to us. More on renters insurance.
No. Homeowners policies assume owner occupancy, and a rental needs a dwelling fire or landlord policy. Leaving a rental on a homeowners policy risks the claim being denied on the basis that nobody insured lives there.
No. Tenant property is the tenant's responsibility, which is why requiring renters insurance in the lease is worth doing — it is inexpensive for them and removes a common source of disputes.
It replaces rental income while a covered loss makes the unit uninhabitable. Check the limit against how long a serious repair realistically takes, which is usually longer than owners expect.
Most policies restrict coverage after a stated vacancy period, commonly thirty to sixty days, with vandalism and water damage excluded first. Tell us before a unit sits empty and we can arrange vacant property coverage.
Usually yes, and it is often simpler and cheaper than separate policies. Once you have a few, an umbrella across the portfolio is normally the best value available to you.
It depends on the carrier and the property. Short-term rental is a business use that most standard landlord policies restrict, so it has to be disclosed and placed with a carrier that accepts it.
Send the declarations page for your rental and we will check loss of rents, vacancy terms, settlement basis and liability.