A landlord insurance policy is supposed to ensure that though your house is occupied by tenants and you do not have as much control over your house as you would have loved, you can still be assured that your investment is secured as it is well covered.
Unlike regular home insurance, landlord insurance doesn’t just cover against the usual perils but also against actions of your tenants that may be injurious to your property.
To make this coverage very effective for you, you need to be careful the quality of people you give your apartments or homes out to as this will surely have a direct effect on your rates. It is necessary to have tenants who can abide by your tenancy agreement.
A little point you need to understand again is that a policy that covers against damage caused by animals is usually against animals from outside. If somehow the damage was caused by a tenants animal, then your insurance coverage may not cover that. Be sure you know exactly what your coverage covers and what is does not.
The quality of tenant you have in your home would determine the rates you pay both now and in the long run. Your insurer would not take lightly your having tenants who they profile as high risk. Watch out for this.
To be really sure you get the lowest and cheapest rate possible in your landlord insurance coverage, get and compare as much quotes as you can. This will give you access to the best rates.