Landlord Policies

Protect Your Rental Property with Insurance

Do you own a property with tenants? Or rent your lake cottage in Minnesota? If so, you should get landlord insurance.

What Is Landlord Insurance?

Landlord insurance is a policy for a person (landlord) who rents out a home they own.

It usually includes two types of coverage: (1) property and (2) liability protection. Both are designed to help protect you from financial losses.

Landlord Property Protection

The property protection usually helps cover physical property associated with the Minnesota home you’re renting out. In general, it may include the following: 

Dwelling — helps pay to repair your rented condo, home, or apartment if it gets damaged by fire, lightning, hail, or wind.

Other Structures helps you when you need to repair detached structures on your property, like a fence or detached garage, if a covered loss damages them.

Personal Property Used to Fine-Tune the Rental — If you keep a lawnmower or snowblower onsite to maintain your property, a landlord policy may help cover the equipment if it gets damaged. 

The types of coverage listed above are all liable to the deductibles and limits described in your policy. 

  • Your deductible is the amount you will pay for a covered loss before your insurance contributes.
  • A limit is the highest amount your insurance will pay after a covered loss.
  • Each coverage usually has its separate deductible and limit. You might be able to set your own. 

Landlord Liability Protection

The liability portion of a landlord policy can help you pay for someone else’s medical bills or your legal costs if you’re found responsible for another person getting injured on your rental property in Minnesota.

For instance, if your tenant trips and falls down the stairs at your residential property and a court concludes that you didn’t maintain the stairs or railing, you may be held responsible for your tenant’s medical and legal expenses. You could be held responsible for other costs as well.

In this case, your liability coverage can help pay for those costs — up to the limits of your policy.

Note: Usually you won’t pay a deductible for a liability claim.

Why You Need Landlord Insurance

Homeowners insurance won’t cover a house that isn’t inhabited by its owner. This is where landlord insurance comes in. Also, it would be a mistake to assume that your Minnesota home insurance will cover all the expenses if an accident or a natural disaster occurs.

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Extra Landlord Coverages to Think About

You may consider adding some optional coverages (riders) to your landlord policy, depending on the area or condition of your rental. Extra coverages may include:

  • Burglary
  • Vandalism
  • Building codes
  • Rental property under construction


  • Flood insurance
  • Emergency coverage
  • Guaranteed income insurance
  • Additional construction expenses

As your local agency, we can tell you the optional coverages that may be available and help you further understand how they can protect you.

The Bottom Line

Before you decide to rent out property, look at your homeowners insurance policy. It would be unwise to assume it’ll cover damages and liabilities when you’re not living there. If you’re looking to protect your Minnesota home and rent it out, too, get landlord insurance.

Also, since landlord insurance doesn’t cover a renter’s belongings, it’s a good idea to suggest renter’s insurance for your renter.

Get Your Free Landlord Insurance Quote

We serve all of Minnesota, including communities like Minneapolis, Saint Paul, Rochester, Bloomington, Duluth, Victoria, North Oaks, Minnetrista, Medina, Waconia, and Chanhassen.

If you’re ready to rent out a property to tenants, we can explain your options so you can pick the coverages that are best for you. It starts with a FREE quote.