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Importance of Being Insured with an Investment Owner/Landlord Policy

Landlord insurance papers on a desk. If you have bought a house before, you may have some knowledge of homeowner’s insurance. Homeowner’s insurance usually protects against damages to the house and personal belongings, as well as liability claims against the homeowner, and loss of use of the home in the event of a covered incident. In contrast, landlord insurance is designed to cover the specific risks that come with renting out a property, including property damage caused by tenants, loss of rental income resulting from property damage or tenant eviction, and liability claims arising from tenant injuries or property damage.

Investment owner/landlord insurance shields you against the risks of renting out your home. If you own a property that you rent out, landlord insurance can help protect you. Landlord insurance is designed for non-owner-occupied residences and covers features of your rental properties that other insurance policies do not cover. A few things that are covered by landlord insurance are:

  • Personal property owned by the landlord that is used to maintain or service the rental property, such as appliances or tools.
  • Liability coverage to help pay for medical and legal fees.
  • Property damage or loss of rental income caused by natural disasters, such as fire, storm, or flood.
  • Tenant-related risks, such as rent default, unauthorized alterations to the property, or theft by a tenant.


Carefully examining the terms of a landlord insurance policy is of utmost importance. To prevent unforeseen charges or unpleasant surprises during a claim, it’s essential to comprehend the policy’s terms. Familiarize yourself with the covered and excluded items, as well as any limitations or exclusions that may be relevant.

Landlord insurance premiums may be tax-deductible as an expense related to the rental property, allowing landlords to deduct the cost from their taxable income. However, the rules around deductibility can be complex and the amount can be limited by other factors. To determine if landlord insurance premiums are tax-deductible, it’s recommended that landlords consult with a qualified tax professional or refer to official IRS guidance.


We know how important it is to protect your money at Real Property Management Dominion. We can help you find the right insurance policy so that you and your residents are protected from the unknown. Our full-service Yorktown property management is meant to keep your costs low, your earnings high, and your real estate investment safe for years to come. Contact us online or give us a call at 757-395-4274 to find out more about our property management services.

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