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Old 05-09-2011, 09:38 PM
 
Location: Here and there, you decide.
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Does anyone know of affordable LANDLORDS' insurance...(not rental, this is for investment property)?? What's the going rates? 1966 home, 150k value, standard everything else
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Old 05-10-2011, 07:36 AM
 
Location: Cleveland, Ohio
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You don't need any special insurance. Just regular homeowners insurance and let them know it is a rental.
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Old 05-10-2011, 02:34 PM
 
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Yep, the rental premium can be up to $150/yr. That's the most I've been quoted, anyway.
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Old 05-10-2011, 03:33 PM
 
Location: Here and there, you decide.
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Quote:
Originally Posted by Peregrine View Post
You don't need any special insurance. Just regular homeowners insurance and let them know it is a rental.
homeowners and landlord insurance are two seperate types of policies..
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Old 05-10-2011, 03:35 PM
 
Location: Here and there, you decide.
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Originally Posted by Cleveland_Collector View Post
Yep, the rental premium can be up to $150/yr. That's the most I've been quoted, anyway.
that is for renter's insurance...
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Old 05-10-2011, 03:58 PM
 
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No, it is not. I have two rental properties. The rider is for willful damage caused by a tenant. Standard insurance will not usually cover this as it is not an "act of God or nature" or related to an accidental activity caused by the homeowner. If you're truly a realtor, you should know this.
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Old 05-10-2011, 04:15 PM
 
Location: Here and there, you decide.
12,908 posts, read 27,991,974 times
Reputation: 5057
Quote:
Originally Posted by Cleveland_Collector View Post
No, it is not. I have two rental properties. The rider is for willful damage caused by a tenant. Standard insurance will not usually cover this as it is not an "act of God or nature" or related to an accidental activity caused by the homeowner. If you're truly a realtor, you should know this.
renter's insurance covers property inside... landlord insurance cover's liabilty and property together... I have 7 properties, just 1 in ohio. And you are correct that standard insurance will cover a tenant, than you get the rider.. however.. you are paying a huge premium (600-700 a year for insurance)...whereas landlord insurance alone should run around 350..

as a landlord YOU should know this.
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Old 05-10-2011, 09:39 PM
 
4,361 posts, read 7,176,348 times
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I do. I already posted that the rider premium runs me $150/yr. You just assumed I was talking about renter's insurance. I was not. Total for each house is around $800 w/landlord insurance included. It's not a big deal, the tenants pay for it, the house note, and the property taxes.
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Old 05-11-2011, 07:17 AM
 
Location: Cleveland, Ohio
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I've been a landlord for 7 years and had 3 insurance companies. Never heard of "Landlord Insurance".
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Old 05-11-2011, 07:34 AM
 
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If you have rental properties, the type of insurance you want is called a fire policy. If however, you live in one of the units of your house/apartment, say a double/duplex, you can use a homeowners policy. Call an insurance company, they will know what you need.
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