Keep Your Investment Safe with Landlord Insurance
Owning a rental property is a rewarding investment, but can leave you open to considerable risk. Landlord Insurance from Andor Insurance Agency gives you the peace of mind you deserve when it comes to your properties across the state of Texas. Our landlord policies allow you to protect yourself financially from damages or injuries related to rental properties you own – commercial & residential.
Texas Landlord Insurance
Landlord Insurance that Provides Peace of Mind
Andor Insurance Agency can help you find the perfect coverage for you and your investments. We’ll also help you understand what types of coverages you might want to consider based on a number of factors such as your income, # of properties owned, etc.
Landlord insurance policies can vary. Andor Insurance Agency can provide landlords in Texas with coverage for:
Property Damage Coverage
Structure damage to a rental property can ruin a landlord financially if they aren’t prepared for the surprise cost. With a landlord policy from Andor Insurance Agency, you’re covered.
Loss of Rental Income Coverage
If your property experiences damages in a covered event and tenants are unable to inhabit the home, your landlord insurance can help cover the lost rental income! An agent with Andor can tell you more!
Rental Home Liability Coverage
Liability coverage has you covered should an incident take place in your rental property. If your tenant falls and breaks their back on your property they may sue you. Your liability coverage helps to cover the costs associated if so.
Optional riders that can be added to your landlord insurance policy:
Building Code Coverage
Building code coverage allows you cover the additional cost of repairing your home up to code if it’s damaged by a covered event.
Most landlord coverages apply to occupied homes and coverage typically lapses after the 30 days of the property sitting empty. Non-Occupied Dwelling coverage from Andor Insurance Agency extends this period of time.
HVAC Loss Reimbursement
Protect any additional structures on your property – garage, shed, etc – with Additional Structures Coverage.
Texas Landlord Insurance Information
The type of insurance policy your rental property requires depends on several factors. It can be based on the insurance provider and the duration of time you rent out your property in Texas.
Typically, your provider will want to see that your property is occupied long-term, with at least 12-month leases being put in place. That’s not say that coverage isn’t available for Texas landlords who deal primarily with short-term rental properties. It will just usually mean that you’ll pay a bigger premium every month due to the nature of your rental property’s volatility.
Some other factors that can affect the rate you pay on landlord insurance are:
- Location of Your Property(s)
- Purchase Date of the Property
- Upgrades of Improvements You’ve Added to the Property
- Your History of Claims
- Alarm System on the Property and more.
What isn’t covered by Texas landlord insurance?
Maintenance repairs are not covered by your landlord insurance. If the tenant calls you and claims your dishwasher is broken your provider will not cover the cost of repair or replacement for appliances such as this.
Your Tenant’s personal property is not covered by your landlord policy. Our insurance agents recommend that you require any and all tenants in your property to carry renters insurance to protect their belongings within your property.
Questions About Landlord Insurance?
Check out our frequently asked questions from other landlords in Texas.
Is Landlord Insurance a Requirement in Texas?
Texas law says you must show proof that you can pay for accidents that you cause. Most people do this by buying auto liability insurance. Liability insurance pays for the other driver’s repairs and medical bills. If you still owe money on your car, your lender will require you to have collision and comprehensive coverage to pay for damage to your car.