Landlord/Property Insurance requirements
hello,
Just wondering what the insurance requirements or suggestions would be for a rental property that is owned outright without current property insurance. Is it a requirement to have property insurance in addition to landlord insurance? What if there's no interest in insuring the actual building or landlords property, but just insuring against bodily harm/injuries that occur on the property...Are there policies for just that?
Thank you for the help,
Anthony
Most Popular Reply
Why would you not want insurance on the property? Even if owned outright, don't you want your asset protected in the event of a fire, etc. Am I missing something? I own my properties outright also and definitely keep property and liability insurance on all of them to protect the asset and myself. Otherwise you're just asking for something bad to happen or to be sued.