Finding the right types of insurance can be challenging, but it is so important. If you’re currently shopping around for insurance policies, you may be aware that it can sometimes be difficult to compare two policies. Let’s go over landlord insurance and homeowners insurance so that you can decide which one is the right choice for you.
Having Insurance for Your Home
Whether you are living in your home or renting it out, having the right type of insurance is essential. So many things can go wrong when it comes to a house, and having the right kind of insurance is the best way to prepare for those scenarios. When purchasing insurance for your home, you need to ensure that you’re enrolling in the right type of policy. This will ensure that you have the right coverage and are spending your money on a policy that will benefit you.
Landlord Insurance
Landlord insurance is for those that are renting out their house. It takes this into account and provides some coverage that overlaps with homeowners insurance, but also some different coverage. For example, landlord insurance doesn’t cover any of the belongings within the home. It will include loss-of-rent coverage if something happens with your rental agreement. Landlord insurance is a slightly more expensive option.
Homeowners Insurance
Homeowners insurance is unique in that it protects the belongings within the home. This is good in the case of a fire or flood. However, this type of policy will not include any kind of rent protection. Homeowners insurance is typically significantly cheaper than landlord insurance.
Which Option is Right for You?
If you’re renting out your property, then landlord insurance is most likely the right choice for you. However, suppose you’re living on your property and want coverage for your belongings. In that case, homeowners insurance is most likely the correct route.
When purchasing the right insurance for your house, we’re the experts. We understand what it takes to find the right insurance policy and make sure it includes the coverage you need. If you’re ready to begin the enrollment process, feel free to give us a call today! We’ll find the time to discuss your insurance needs and which policies could work best for you.