Illinois Rental Property Insurance
Are you a landlord? Then you need to read this:
Regular homeowners insurance is not adequate enough to provide the coverage needed for rental properties. Landlord insurance, sometimes referred to as rental property insurance, can protect your investment in the event of a loss.
Do you need rental property insurance for your investment?
Can you afford to repair or replace your investment property in the event of a total loss? If your answer is no, then rental property insurance is necessary.
What types of coverage do you need for your property?
Besides the basic property coverage for your residential or commercial investment property, additional coverages are available. Some include:
- Income Replacement: Pays lost rental income while your property is being rebuilt due to damage from a covered loss.
- Personal Liability Coverage: Pays legal fees and medical expenses to those whom suffer injuries on your property.
- Personal Property: Pays damage to contents that are furnished to your tenants including domestic appliances, carpets, curtains, etc.
How much does rental property insurance cost?
We’ve got great news! Rental property insurance doesn’t have to be expensive, but it is a necessary expense in protecting your investment property. Usually, rental property insurance rates are determined by a couple factors including territory, type of occupants, etc.
Rental investment property insurance in Chicago, Illinois
A local agent at Insured ASAP can help customize your rental property insurance quote to fit your budget and needs. The types of rental property insurance we specialize in include:
- Vacant Property Insurance in Chicago
- Unoccupied Building Insurance
- Commercial Rental Property in Chicago, Illinois
- Residential Rental Property in Illinois
- Apartment Building Insurance Chicago
- Mixed Use Property Insurance in Chicago, IL.
- Stand Alone Building Insurance
- Vacant Land Insurance
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