Landlord Dwelling Insurance in Minnesota

What is landlord insurance?

Landlord insurance provides financial protection if your rental property is damaged, becomes unlivable after a catastrophic event such as a fire or a storm, or if someone is hurt on the property.

What does landlord insurance cover?

Insurance policies vary, but most landlord insurance policies offer coverage for the following:

Property damage insurance

A landlord policy typically covers any physical damage to the home that's caused by fire, bad weather or criminal activity such as a break-in. It also covers any additional buildings, including a shed or detached garage. Equipment, like lawn mowers and snow blowers kept on the property to maintain it, is also covered.

Liability insurance

If someone is hurt while living in the rental property or visiting it, landlord insurance can help cover that person’s medical costs, legal fees, and settlements.

Loss of income insurance

If your rental property is damaged by a covered loss, such as a fire or tornado, and the damage keeps you from renting it out, most policies will reimburse you for the income lost during that time.

What landlord insurance doesn't cover?

Landlord insurance doesn't cover a tenant's belongings. For example, if the tenant's car, furniture, and antique china collection are lost in a fire, landlord insurance doesn't cover that.

Landlord insurance doesn't cover repairs, either; if the dishwasher breaks or the furnace goes out, you're responsible.

Buying landlord insurance is a safe way to protect your investment. Owning a rental property isn't always easy but purchasing Rental Property coverage with Brittany Olson Insurance Agency is one of the easiest decisions you can make as a landlord.

While our office is located in Cloquet, MN, we serve all across Minnesota and Wisconsin.