Rental Property Insurance
How Things Can Go Wrong Without Rental Property Insurance
Consider this story:
- A homeowner, frustrated by his mortgage payments but still in love with his home, decided to rent it while he lived in a less expensive apartment. He vacated the home on a Friday. His renter was to begin living there in two weeks. The renter did buy renter’s insurance.
- However, a week later, the home caught fire and sustained damage making it uninhabitable. The homeowner had kept his home policy in force but the insurer refused to pay the claim, stating that the home was a rental.
If you are seeking to rent out a home on Florida’s east coast, contact Harbor Insurance. The protection differences of a home policy, renter’s policy and rental property policy can be confusing. We will show you the insurance consequences of renting a home and what the scope of coverage by those three insurances.
For example, rental property policies usually cover rent for a year in case your home is too damaged to be rented.
Another thing to know is that most Florida rental property policies do not cover any personal property because the policyholder is not occupying the home.
Harbor Insurance Services East And South Florida
Harbor Insurance represents over 30 insurance companies. We have four offices in South and East Florida— Port St. Lucie and West Palm Beach.
Since rental property represents the interests of the renter and the homeowner (not to mention the mortgage holder), it is critical to get the insurance suited for everyone.
Get started today! Come visit our office, give us a call or simply fill out the Protection Savings Form on this page right now to get started.