Renting is very common in the United States and this means that there are sure to be some landlord issues. The other side of the coin is that landlords have their own issues with renters. That is why many of them take out a landlord insurance policy to protect their finances and their property.
While landlords have easy access to the properties, because they are the owner, they cannot monitor everything that goes on all day and night. They also do not know if a natural disaster will occur, such as an earthquake, hurricane, flood, or even a fire.
Landlord insurance will cover the cost of rebuilding or repairing the buildings on the property, as well as other structures, if they are damaged due to a natural disaster that your policy covers.
As far as renters, taking out a landlord insurance policy can protect them if their tenants are smokers, felons, or even affiliated with al-Qaeda. This can ensure that you have protection from renters who may destroy or harm your property as well.
Landlords definitely want to have liability coverage. If a guest or tenant falls, stumbles, or has an accident on the property, this can protect the landlord from liability.
There are many challenges that landlords are forced to face, but these issues can be taken off the table with the simple addition of landlord insurance.