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Rental Property Liability Insurance

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Check Rosette Top Subjects:
Maintenance and Taxes & Accounting
  • Posts 77
  • Votes 13

Jordan Little
Investor from Lathrop, CA

posted 20 days ago

Hi all,

    I'm looking for recommendations as to what insurance companies provide landlords with liability insurance beyond the typical property damage and bodily injury coverage.  Does anyone have any knowledge of or experience with more extensive liability policies?

Thank you!

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  • Posts 2.0K
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Jason Bott
Insurance Agent from Milwaukee, WI

replied 20 days ago

@Jordan Little

By definition General Liability is protection against Bodily Injury and Property damage claims, so what your asking about will

Probably fall under a different name/title.

What types of claims are you looking to cover?

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Check Rosette Top Subjects:
Maintenance and Taxes & Accounting
  • Posts 77
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Jordan Little
Investor from Lathrop, CA

replied 20 days ago

Hi @Jason Bott , thanks for the response.  There's an array of situations in which I could imagine a tenant suing--  emotional distress, breach of contract, dissatisfaction with how repairs/security deposits/tenant approvals are handled...  etc.  I can't even really anticipate what one could potentially encounter given the litigious nature of American culture these days.

I'd be most interested in a policy that would provide complete coverage for any legal matter that I may be faced with as a landlord.  I'm not even sure that such a thing exists, but there are certainly gaping holes in general liability policies that only cover property damage and personal injury.

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  • Posts 2.0K
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Jason Bott
Insurance Agent from Milwaukee, WI

replied 17 days ago

@Jordan Little  

emotional distress, breach of contract, dissatisfaction with how repairs/security deposits/tenant approvals are handled... etc.

In most of these cases, these would be a civil suit against the landlord. These suits may be picked up under a Professional E&O policy. These policies start around $1500 per year and have a $5,000 deductible, so the majority of landlords decide to self insure for these types of claims.

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Check Rosette Top Subjects:
Maintenance and Taxes & Accounting
  • Posts 77
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Jordan Little
Investor from Lathrop, CA

replied 17 days ago

@Jason Bott Thank you for the information. Do most big-name insurance carriers offer Professional E&O policies?

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  • Posts 2.0K
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Jason Bott
Insurance Agent from Milwaukee, WI

replied 17 days ago
Originally posted by @Jordan Little :

@Jason Bott Thank you for the information. Do most big-name insurance carriers offer Professional E&O policies?

E&O is more of a Nonstandard policy, but companies like Hartford and Hanover have a product.

 

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Finding & Screening Tenants and Tenants
  • Posts 81
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Jason Crowe
Realtor from Jacksonville, FL

replied 12 days ago

Who in florida has good coverage for rentals today?  Who do you recommend?

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