Investing in real estate can be a challenging adventure as today’s market demonstrates. That is why it is so important for investors to make sure that they have the right insurance coverage to protect not only their investments but also their potential profits and personal wealth from unplanned events.
Some of the exposures that need to be considered are; replacement costs of property, liability exposure, loss of rents and water damage to name just a few.
One of the most misunderstood and least utilized additions to a landlord’s dwelling policy is vandalism coverage. This protection not only covers damage from outsiders, but it also covers damage done to the property by a tenant and at an affordable price.
Requiring or building into a lease that all tenants have renters insurance can add an additional layer of protection for a landlord that is paid for by the tenant. While many tenants do not have renters insurance, it is very affordable and offers a level of protection that is not available from the landlord’s policy or their own auto policy.
At Judge Fite Insurance we have many insurance solutions for tenants and investors/landlords. We represent insurance carriers that have an excellent policy for landlords who use a Certified Property Management company like Judge Fite Property Management. That can result in an additional 15% discount off the annual premium for qualified properties. We also have solutions for more active investors to place all of their properties on one policy, providing much broader coverage and much higher limits while reducing the premium per property much lower than if each property was insured on its own.
For more information about insurance for your home, investments, vehicles, or business, contact Judge Fite Insurance Agency at firstname.lastname@example.org or 214-446-2571.