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PM me if that's appropriate. Seems good rental property dwelling insurance is harder to find than homeowners insurance. Looking in particular for San Antonio, Texas. Any suggestions?
are you talking about insurance on a rental you live in or insurance on a rental property you own ?
a rental you own and rent out to others needs landlord insurance
Absolutely correct. Landlord insurance covers the cost to replace or repair the structure and renters insurance covers the renter's contents.
I found this out myself when I first rented out my home as I wasn't originally aware. I pay more for my landlord insurance than I paid when I lived there for my standard homeowner's insurance.
Seems good rental property dwelling insurance is harder to find than homeowners insurance.
What I think that really means is that you don't like the price of the policy that you do have and you can't find anything cheaper.
The majority of insurance companies that write homeowners policies can also write a Dwelling Fire Policy DP-3 (Special Form) or its equivalent and add a liability rider to it. It's not hard to find, it's just not cheap because a rental is a higher risk property.
And it doesn't help that you are close to the gulf (hurricanes) where rates and deductibles are high because of wind claims.
If you want the benefits of owning a rental, the insurance is part of the cost of doing business.
Absolutely correct. Landlord insurance covers the cost to replace or repair the structure and renters insurance covers the renter's contents.
I found this out myself when I first rented out my home as I wasn't originally aware. I pay more for my landlord insurance than I paid when I lived there for my standard homeowner's insurance.
There is a big difference between ho3 homeowners which is for owner occupied and landlord insurance .
Under ho3 homeowners household members are covered under your policy . In most states anyone who is living in your home a certain amount of hours becomes a household member .
Have a tenant vandalize , arson or steal from the apartment and they are considered an insured and it is like an insurance job ...so you need to break that distinction with landlord insurance ....I learned the hard way ..after the fact
Yes, I was referring to landlord insurance DP-3. Besides pricing, what I found though at least with online queries, not all the insurance companies offer landlord insurance. I guess you get better luck consulting an insurance agent and/or calling the insurance companies up than going online.
Seems online quote coverage is more for homeowners insurance for whatever reason.
Liberty Mutual and Travelers both offer favorable rates if you call them directly and don’t go thru an agent. They don’t provide quotes for LL insurance online but you can get a quote by phoning. I have been switching my policies from American Modern and Safeco over as they come up for renewal due to better rates.
Yes, I was referring to landlord insurance DP-3. Besides pricing, what I found though at least with online queries, not all the insurance companies offer landlord insurance. I guess you get better luck consulting an insurance agent and/or calling the insurance companies up than going online.
Seems online quote coverage is more for homeowners insurance for whatever reason.
True. Online insurance is marketed for the majority of consumers.
Rental property insurance is best obtained through independent agents or direct writers with local agencies.
Liberty Mutual and Travelers both offer favorable rates if you call them directly and don’t go thru an agent. They don’t provide quotes for LL insurance online but you can get a quote by phoning. I have been switching my policies from American Modern and Safeco over as they come up for renewal due to better rates.
My rental policies are through Travelers as well. I found them to be very reasonable in comparison.
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Landlord Insruance
