Rental Property Insurance
Your Frisco Rental Property Agent
As an independent insurance agent, Parkwood Insurance can get you the best coverage for your rental property. Whether you have a second home that you lease to tenants or rent out your vacation home for a few weeks a year, Parkwood Insurance has you covered.
Why Do I Need Rental Property Insurance?
Rental property insurance, also known as landlord insurance is vital if you own a rental property. Often or not your homeowners policy will not fully protect your rental property.
Should you lose your rental income while your property undergoes unexpected repairs after damage from a fire, floor or other natural disaster, a rental property insurance policy will protect your livelihood. While rental property insurance is not required by law, it would be remiss of you to not get it if your are collecting rent and managing a property.
A rental property insurance policy will protect your rental property, provide personal liability coverage and cover you from loss rental income if your property is too damaged to rent due to a covered loss.
What Does Rental Property Insurance Cover?
Most rental insurance policies offer some form of the following types of coverage –
Dwelling coverage: covers reconstruction or repairs to the house caused by fire, storm damage, theft, vandalism, tenant damage or other covered perils.
Personal property coverage: Covers items you own that you leave on-site for maintenance or tenant use such as appliances or lawnmowers.
Liability coverage: Protects you if your tenants or one of their guests are hurt on your property. Your liability insurance will cost the costs associated with bodily injury claims on your property such as medical expenses, funeral costs, legals fees and settlement costs.
Loss-of-rent coverage: Reimburses you for lost fair rental value if you are unable to rent out your property due to a covered loss.
How to Get The Best Rental Property Insurance in Frisco
As an independent insurance agent, Parkwood Insurance will compare quotes and options from multiple insurance companies and will customize your coverage to meet your needs.
We will ensure that your property is properly protected so you can have the peace of mind knowing that your rental income is safe.