As a property owner it’s important to keep your assets safe and secure.
When you rent your space to tenants, you are relying on and trusting them to treat your property with respect. This means doing no damage to your property that can’t be easily repaired.
This doesn’t just include long term tenants either. This can be any property that you rent out such as a cabin or vacation home as well.
But what happens when a tenant leaves the home in disarray, a fire happens, you find mold or a severe weather event damages or destroys the property? Are you covered and insured by landlord insurance to ensure you don’t pay out of pocket for incidents beyond your control?
What Is Landlord Insurance?
Landlord insurance is a type of coverage that provides protection of a home or property that you own that is not occupied by you full time.
Homeowners insurance will not cover properties that you own and do not live in which is why it’s important to have a policy to ensure you’re covered.
What value is your property if something happens beyond your control and you have to pay for it yourself? All of the profits that you’ve earned will be spent repairing and fixing the damages done, which is what we, here at Insurance By Castle, do not want to happen to you.

What Does Landlord Insurance Cover?
We mentioned above that landlord insurance covers things like natural disasters, fires, mold issues, and tenant damage, but it can cover much more.
Lost Income
When your property is left uninhabitable, landlord insurance can reimburse you for the lost income that you would have otherwise received during the time of the repairs.
This can be due to weather-related incidents, fires, flooding, structural damage, tenant damage, mold, or anything that can cause you to keep the property off the rental market for a period of time.
Property Damage
If you furnish your rental space with appliances, furniture, or the like, you can get reimbursed for the replacement of those items should they be damaged in any way.
Liability Coverage
If a tenant slips and falls due to a home maintenance issue (broken railing or step, icy walkways, etc.) you’ll have the option to have liability coverage included to help cover any medical or legal fees that might occur.
Cost Of Landlord Insurance
Like homeowners insurance, the cost of your landlord insurance will depend on different factors. When discussing your property, explain to your insurance agent how you rent it out, what is included in the space, and every detail possible to ensure you are getting the right coverage.
Once you know the cost, you’ll be able to factor in the cost of the landlord insurance with the rental price. You are basically running a small business, and no business wants to go without the protection of its assets.
Need Landlord Insurance In California? See Insurance By Castle
Here at Insurance By Castle, we want to help guide California property owners and landlords in the right direction so they can safeguard their valuable assets in case of an incident that is beyond their control.
Don’t wait to get coverage until it’s too late; get a quote today!