Landlord Insurance to fit your budget and needs
If you are curious about landlord insurance in Decatur, GA, the first thing you need to know is the level of coverage it offers. This will vary based on the policy you take out. There are two broad categories of property owner insurance (Decatur, GA): property protection and liability protection. While you might be able to find a policy that offers just one or the other, if you are renting out a home or other property, you are going to want both.
Property protection is pretty much what it sounds like: the part of your policy that covers damage to physical property at your rental. At its most basic, it covers the dwelling itself, but it can also cover items inside, equipment used to maintain the property, and even other structures on the land. Coverage generally includes:
The Dwelling: : This helps reimburse you or outright pays for repairs to the rented property. Keep in mind that not all damages will be covered. You need to fully understand what qualifies as a covered loss before taking out a policy.
Other structures: Many rental have other structures on the property, such as detached garages and storage sheds. If you have other structures coverage, you can receive assistance in the event of damage or loss.
Personal Property Used for Maintenance : Chances are you will need to leave items at the property to maintain it. These can be small tools, ladders, even lawnmowers. With the right coverage, your policy might cover these items if they are damaged or stolen.
Property protection is about the things. Liability protection is about the people. If someone is injured while on your rental property, you can be sued for their medical bills, lost wages, and even pain and suffering.
While you should focus on reducing liabilities, we all miss things from time to time. Being human is no reason to find yourself in financial ruin. Landlord liability coverage ensures that you’ll have help covering your legal expenses and in paying settlements should you be found guilty.
Remember: landlord insurance policies are like any other in that there are deductibles to meet and limits on coverage. Turn to Focus Insurance Group so we can make certain the terms of your rental property insurance policy in Decatur work for you. We know how much your investment means to you. That’s why we offer a variety of insurance solutions, from landlord policies to home insurance in Decatur, GA and renter coverage– contact us today!