• Landlord insurance refers to a category of general insurance coverage specifically designed for property owners. It is a useful form of coverage that enables homeowners to protect their property while leasing it to tenants.

Common Coverage in Landlord Insurance

1. Fire damage
Should your residence suffer damage from a fire, you can anticipate compensation from the home insurance provider.
2. Burglary
In the event of a break-in that results in property damage, your insurance provider will cover the claim amount.
3. Accidental damage
Any losses resulting from accidental damage are included under a homeowner’s insurance plan. Scrutinize the policy wording closely to fully understand this coverage scope.
4. Natural calamities
Damage from natural calamities like floods and earthquakes can be severe. Obtain a home insurance policy to safeguard your property against such damages.
5. Riots and terrorism
If your property is damaged due to human-made risks such as war and terrorism, your insurance provider will reimburse the damages incurred.

Exclusions in Landlord Insurance

Though there are several excellent coverages in a landlord home insurance plan, there are also some exclusions, including:
1. Willful misconduct
Any harm to the property resulting from intentional wrongdoing will not be covered. If the home is intentionally harmed, you cannot file a claim.
2. War
Any damage arising from war-related events is not included under a standard home insurance policy.
3. Precious collectibles
In the event of losing valuable home collectibles such as antique furniture or high-value artwork due to a disaster, you will not receive any compensation.
4. Old items
Items in the household that are more than 10 years old will not be included under such an insurance policy.
5. Consequential loss
All types of consequential losses are permanently excluded from a landlord insurance policy.

FAQs
1. Is home insurance very expensive?
Home insurance is among the most affordable types of insurance. You pay a modest fee to secure your home valued in lakhs.
2. Do tenants require home insurance?
Landlord insurance primarily targets homeowners who have leased their properties, hence tenants may not need this policy.
3. Is home insurance available online?
Yes, similar to other insurance types, home insurance can also be purchased online.

Conclusion

As you can see, landlord home insurance offers much value. If you are a property owner, get a solid policy immediately and enjoy its benefits. You can acquire a policy online in just a few minutes, so get started!
Disclaimer: The information above is for illustrative purposes only. For more information, please consult the policy wordings and prospectus prior to finalizing the sales.