Landlord Insurance learning for new investors

[Xu Weng]

I am just starting out in a duplex unit near Cleveland Ohio. one of the unit needs work and that got me some trouble getting property insurance. In general, what kind of things should landlord be looking for when buying landlord insurance to protect our interest. 

I am also concerned about potential vandalism for one of the tenants. 

Can proper insurance replace LLC ?

[John Mocker]

Xu,

From your post I gather that you will have one occupied unit and one that will be under renovation.  If duplex is vacant when you are doing the renovation, the normal policy we use is a Renovation Builders Risk.  That covers the existing structure and the renovations as they are incorporated.  Most Standard companies do not like a Renovation where part of the structure is occupied.   

Depending on how long the renovations will take and what is being done, your agent may be able to get a company to write it.  

Regarding the Vandalism, your insurance would normally not cover the property of your Tenant.  They would need their own renters insurance to cover vandalism.