Apartment Building Owners of Illinois

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Landlord Insurance

You know that as a landlord, you have many responsibilities, and one of the most important responsibilities is making sure that you have the proper amount of insurance. When you are renting to someone, there are all kinds of things that can happen, and you need to be protected so you don't end up having to spend a whole lot of money!

You may not know this, but   Homeowner’s Insurance might not provide the adequate coverage you need to protect your rental property and your assets. Having insurance for apartment owners can protect you from most unforeseen circumstances. Rental Property Insurance will protect your investment and reduce the chances of not being able to replace your property should anything occur.

A Landlord Insurance Policy, which may also be referred to as a Rental Property Insurance Policy or a Dwelling Fire Policy, provides the following protection for owners of rental property:

• Dwelling Structure: Provides coverage for the apartment building, itself.
• Limited Contents: Provides coverage for items like a washer and dryer or refrigerator left by the owner for the use of the tenant.
• Loss of Rents: Provides coverage of lost income when the apartment is rendered uninhabitable by a covered loss (as long as you’re making repairs)
• Personal Liability Coverage: Provides coverage if someone injures themselves while on your property, if the injury was caused by something on the property.

It’s a fact of life that there will always be unforeseen risks when renting out an apartment to tenants, but with Landlord Insurance, you can keep yourself protected. As a one-stop independent insurance agency, Anchor Insurance Agency works with many insurance providers, so you know you will be able to find Rental Property Insurance that provides the right coverage at the right price to protect you and your investments.