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Rental Property Insurance for Pennsylvania & New Jersey

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If you’re a landlord, you already know that your rental property is a significant investment that needs ongoing care and upkeep. And, like any valuable investment, it also requires reliable protection against any and all threats to its well-being.

Rental property insurance in Pennsylvania and New Jersey exists to shield you from the risks of renting out your space, no matter if it’s physical storm damage or bodily injury on your property. To keep you and your rental property protected from the unexpected, let Freedom Insurance Group, Inc. secure the best insurance policy for your unique situation.

What Is Rental Property Insurance?

Rental property insurance, also known as landlord insurance, provides comprehensive coverage for property owners renting out one or more residential homes, apartments, or condos. It is designed to protect your rental property from financial loss caused by threats such as natural disasters, fires, vandalism, and tenant damage.

Rental property insurance usually covers the actual building, but it can also be extended to include your possessions within the property, such as appliances or furniture. However, this type of coverage does not protect your renters’ personal belongings — that’s the work of a renters insurance policy, which you should always require from your tenants.

Key Coverage Options

Rental property insurance offers a variety of coverage options within property insurance policies. These often include:

  • Property Damage: This core component of rental property insurance provides coverage for physical damage to the property itself due to fire, storm, vandalism, and other covered perils.
  • Liability Protection: Liability coverage is essential for protecting the landlord against legal and medical costs that may arise if someone is injured on the property and the landlord is found to be at fault. This can include anything from a slip and fall to more serious accidents.
  • Loss of Rental Income: Also known as “rental default” or “business interruption” insurance, this coverage compensates the landlord for lost income if the property becomes uninhabitable due to a covered loss, such as fire or storm damage, and tenants are forced to move out.
  • Optional Coverages: Depending on your needs, some rental property policies can also cover flood insurance, emergency property repairs, and more.

Rental Property Insurance vs. Homeowners Insurance

Unlike standard homeowners insurance, rental property insurance accounts for the unique risks faced by landlords, including loss of rental income. With the right policy, you can have peace of mind knowing that your investment is protected, allowing you to focus on managing your property and providing a safe, enjoyable living space for your tenants.

Secure Your Rental Property Insurance in Pennsylvania & New Jersey

If you own a rental property, don’t leave it vulnerable to everyday risks.

At Freedom Insurance Group, we believe that one size does not fit all when it comes to insurance. That’s why our approach is to work closely with you to understand your specific needs, the value of your property, and the risks you face as a landlord.

Our agents represent 15 different insurance companies, which allows us to compare policies and rates to find the best fit for your situation. We are licensed in both Pennsylvania and New Jersey, and we’re always ready to help you safeguard your real estate investments in whatever way we can.

Request your free quote for rental property insurance today.

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