California Landlord Insurance (Dwelling)
California landlord insurance is a policy for a homeowner who rents out a home they own. This type of insurance typically includes two different types of coverage liability and property protection. Both coverages are designed to help protect you, the landlord, from financial losses.
California Landlord Property Protection
The property protection in a California landlord insurance policy typically helps cover physical property related to the home you’re renting out. This may include the dwelling itself and equipment you keep on site to help maintain it. Coverage generally includes:
- Dwelling- This coverage is designed to pay to repair your rented home, condo or apartment if it’s damaged by fire, lightning, wind, hail or other covered losses.
- Personal Property Used To Maintain Property – a lawnmower, hedge trimmer or snow blower onsite to maintain your rental property, California landlord insurance may help cover this equipment if it’s damaged. However, if you leave your personal items like stereo , tv or DVD player at the home you rent out, it likely won’t be covered under your California landlord policy
- Other structures – Similar to homeowner’s policy this part of your policy helps pay to repair detached structures on your rental property, such as garage or fence, if they’re damaged by a covered loss.
Remember the deductible! Coverages mentioned are subject to the stated in your California landlord policy. Your deductible is the amount you’ll pay for a covered loss before your landlord insurance is activated . A policy limit is the maximum amount your California Landlord insurnace policy will pay after a covered loss. Each coverage typically has its own, separate deductible and limit. You may be able to set your own deductible and limit amounts for these coverages.
California Landlord Insurance Policy Liability Protection
California Landlord insurance policy may help you pay for another person’s medical bills or your legal expenses if someone else is injured on your rental property and you’re found responsible. this would be covered under the liability portion of the policy
Optional California Landlord Coverages to Consider
Depending on your situation and location you may want to add some of these coverages.
- Burglary– Optional coverage may be available for theft of items you keep on the property to help maintain it, such as appliances or a lawnmower.
- Vandalism- typically isn’t covered by a traditional landlord policy unless you purchase vandalism coverage.
- Under Construction- If your renovating your property optional coverage may be available during renovations.
- Building Codes– in homeowners policy known as ordinance and law. Simply put your property was built according to the building code at the time it was built. Building codes change, the new codes from the city and county may have changed. this code helps reimburse you for the changed.
Things To Remember in California Landlord Insurance Policy
This is a landlord policy designed to insulate the landlord. This is not a tenant policy. Tenant belongings and liability is not covered on this policy this would could be covered under a renters policy. This policy is is designed to protect the landlord. Call us and we can help you determine the coverage needed for your property.