What is loss of rental income coverage?

Loss of rental income reimburses rent you cannot collect while a covered loss makes the unit uninhabitable. If a pipe bursts and requires 3 months of repairs, you receive the monthly rent during that period — typically limited to 12 months maximum.

Landlord Insurance

Industry

Landlord Insurance Insurance

Landlord insurance (dwelling fire / DP-3 policy) protects owners of 1–4 unit rental properties from the property and liability risks that come with renting residential units. Unlike your primary homeowners policy (which requires owner-occupancy and excludes rental income) or a commercial habitationa…

Key Coverages for Landlord Insurance Businesses

Building coverage at replacement cost for the rental structure
Detached structures (garage, carport, fence, storage shed)
Loss of rental income when a covered loss makes the unit uninhabitable
Premises liability for tenant and visitor injuries
Vandalism and malicious mischief
Landlord's personal property in the rental (appliances, window coverings)

Frequently Asked Questions

Can I use homeowners insurance for a rental property?

No. Standard homeowners policies require you to occupy the home as your primary residence. If you move out and rent to tenants, the homeowners policy no longer applies and will deny claims. You need a dwelling fire (DP-3) or landlord policy from the …

Does landlord insurance cover my tenants' belongings?

No. A landlord policy covers the building and your liability — not tenants' personal property. Your tenants need renters insurance for their own belongings. Many landlords now require renters insurance as a lease condition.