Insurance for rental

[Brandon Becsi]

When I had a traditional home back in the day that i lived in I just paid my home insurance that was bundled in with my mortgage payment... as a new landlord that is buying low income properties cash in higher crime areas .... how do I acquire insurance for the house as well as theft insurance? Say if someone steals the ac unit which happens in high crime areas.

[Jason Bott]

@Brandon Becsi Theft would be covered under the PROPERTY part of the insurance policy.  If it is in a high crime area, there are a few things you will see,

1) The insurance company may exclude theft

2)  They may have a separate Theft deductible that is higher than the rest of the policy, like a $5,000 deductible.

3)  They will cover it, but the premium may be double or triple the other options that exclude it.