As a home owner, you should be covered under a home insurance policy. However, as a rental property owner, the same home insurance policy that covers your personal dwelling does not cover your other properties. If you vacate a home in order to rent it out to tenants, the personal home insurance policy becomes void, and if you own property that you do not live in, a home insurance policy does not apply. You will need rental property insurance. Our team at JVM Insurance Agency is able to assist with determining which policy is right for you, and discovering how much coverage is needed to protect your rental properties.
Frequently Asked Questions
Q: What is rental property insurance?
A: Rental property insurance, also called Dwelling Fire Coverage, replaces your home insurance policy. It effectively covers your rental property from liability and damage if you decide to vacate for rental endeavors.
Q: Does Dwelling Fire Coverage protect from more than just fire?
A: In many cases, yes. Dwelling Fire Coverage includes liability and property damage protection. If someone were to be injured on your property, or damage occurred to your property, it would be covered in many cases. To learn more, contact a JVM Insurance Agent today.
Q: Will Dwelling Fire Coverage protect from lost rental income?
A: Depending on the situation, rental property insurance may cover lost rental income due to property damage for up to a year. If you rely on rental properties for income, rental property insurance is vital in protecting your assets.
About JVM Insurance Agency
If you would like more information on rental property insurance, then talk to your Carrollton TX insurance agency. We provide rental property insurance coverage. The Jeff Van Matre Insurance Agency offers customized insurance policies that feature a variety of coverage options ranging from liability car insurance to homeowner’s insurance policies. Visit us online or call 972-492-8500 today discuss a policy or receive a quote. Located in Carrollton TX, we proudly serve individuals and businesses in Carrollton, Lewisville, Dallas, Irving, Plano, and surrounding communities.