Insurance Clarification as a Landlord & Property Manager
Hello BP!
I am about to close on my first rental property and I would like some clarification about insurance I may need.
I am also going to manage the property myself.
I am planning on getting liability insurance with an umbrella coverage.
Here are the questions I have below:
1. Do I need any other insurance other than liability for a rental property?
2. As the property manager, is insurance needed for that? If so, what kind of insurance should be considered?
3. Am I missing any other insurances to consider for my rental property?
I appreciate your guidance and time for reading my post!
Ashley
Most Popular Reply
Michael Smythe
#3 Classifieds Contributor
Property Manager
#3 Classifieds Contributor
- Real Estate Agent
- Metro Detroit
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Michael Smythe
#3 Classifieds Contributor
Property Manager
#3 Classifieds Contributor
- Real Estate Agent
- Metro Detroit
@Ashley Kroft you will need home insurance that includes landlord provisions, which should cover fire & liability.
That is all you need.
- Michael Smythe
Logical Property Management
445 Reviews
4.9 stars