Home insurance for your rental property is one of your most important expenses as a landlord. It provides protection for your investment against unforeseen events such as natural disasters, theft, and vandalism. Without adequate insurance coverage, you could be left facing significant financial losses.
Insurance companies want to hike rates for rental and investment properties by nearly 50% statewide, but a lot more at the coast. This increase in rates highlights the importance of having a comprehensive insurance policy in place to safeguard your investment.
If you invest in gold and silver and store it yourself, you'll want to protect that investment. Even some of the best homeowners insurance policies may not fully cover valuable assets like precious metals. Investing in specialized insurance for these assets can provide you with peace of mind.
California's single-family home rental market has boomed to 1.8 million units, according to Census figures from 2019, fueled by high home prices and a growing population. With such a competitive market, having the right insurance coverage can give you a competitive edge as a landlord.
You can get home equity loans for investment properties and rental properties; These loans are generally more difficult to get than home equity loans for primary residences. Lenders may require you to have adequate insurance coverage in place before approving a loan for your investment property.
The rate increase would affect rental and investment properties, and a 78.6% increase is proposed for the Outer Banks. It's crucial for property owners in these areas to review their insurance policies and make any necessary adjustments to ensure they have adequate coverage.
Sen. Joe Gruters, R-Sarasota, pitched fellow lawmakers to invest in a new insurance company out to make millions after changes in state law. This highlights the evolving landscape of the insurance industry and the need for innovative solutions to meet the changing needs of property owners.
Openly, an AI-powered homeowners insurance startup, raises $100M to expand its coverage, services, and profitability. This shows the growing interest in technology-driven solutions in the insurance sector to provide more personalized and efficient services to customers.
Purchasing a home is a major investment, so it's wise for homeowners to do what they can to protect it. Unfortunately, it's impossible for a standard homeowners insurance policy to cover all potential risks, especially for investment properties. Investing in additional coverage tailored to your specific needs is essential.
