Insurance for Your Rented Property in Edmonton
Having a rental property is a great way to generate some passive income; however, it does not come without its share of risks. Luckily, with the right rental property insurance policy you can protect yourself from many of the risks of owning a rental property. Protect your home, apartment or building against fire, sewer backup, personal injury, and more with a rental property insurance policy from Capital Insurance Brokers.
Advantages of Rental Dwelling Insurance
The advantages of rental property insurance include:
- Liability coverage for property damage
- Personal property coverage
- Loss of rental income protection
Policies can be customized to fit your needs, depending on the type of rental property you own. Capital Insurance will help educate you on what kind of insurance options are out there, and how to best protect yourself.
How Can Rental Property Insurance Help?
Below are just a couple of ways rental property insurance can make your life easier.
Example 1: Your rental home experiences a fire and takes a year to rebuild. Your loss of rental income protection will pay for the loss of rental income you would have received.
Example 2: A burst pipe requires you to replace your ceiling and carpet in your condo unit. Rental property insurance will cover the cost of the repairs.
Example 3: A passerby slips and falls on the sidewalk, and decides to sue you as the landlord. Your rental property insurance will provide you with the resources needed to hire a lawyer, pay legal fees, etc.
Rented dwelling insurance is often confused with tenant insurance, which is held by the renter’s themselves, not the landlords. Tenant insurance ensures that a renter’s personal items are protected in the event of damage, theft, etc., while rented dwelling insurance is focused on the people who own the rental property.
Get A Quote
Don’t just get insurance, find peace of mind — give Capital Insurance Brokers a call today to learn more.