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Landlord Insurance Clemmons NC

This page provides relevant content and local businesses that can help with your search for information on Landlord Insurance. You will find informative articles about Landlord Insurance, including "Insurance Needs for Landlords". Below you will also find local businesses that may provide the products or services you are looking for. Please scroll down to find the local resources in Clemmons, NC that can help answer your questions about Landlord Insurance.

NCInsuranceSpot
(336) 293-8077
117-1 Willow Trace Circle
Clemmons, NC
Alternate Phone Number
336-293-8077
Services
Insurance & Annuities

The Bates Group - Winston Salem Insurance Agency
(336) 760-3338
1959 North Peace Haven Road
Winston Salem, NC
Alternate Phone Number
(336) 760-3338
Services
Health Insurance, Dental Insurance, Life Insurance, Disability Insurance, Insurance Consulting, Insurance Broker

Breeden Insurance Service Inc.
(336) 249-8618
312 West Center Street
Lexington, NC
 
Farzad Financial
(919) 806-4669
2530 Meridian Parkway
Durham, NC
Alternate Phone Number
919-949-3814
Services
Life-International Health- Disability-Longterm Care-

WEALTH GUARD INSURANCE AGENCY INC
(910) 485-0030
2543-D2 RAVENHILL DRIVE
FAYETTEVILLE, NC
 
State Farm Donna Jones Agency
(336) 602-2980
682 Saint George Square Ct
Winston Salem, NC
 
Breeden Insurance Service Inc.
(336) 249-8618
312 West Center Street
Lexington, NC
 
Lawyers Mutual Liability Insurance Companyof North Carolina
(919) 677-8900, (800) 662-8843
5020 Weston Parkway, Suite 200
Cary, NC
Prices and/or Promotions
States/Provinces Served: North Carolina

Surety One
(919) 859-5294
5 W. Hargett Street, 4th Floor
Raleigh, NC
Alternate Phone Number
(800) 373-2804

Charlotte Holt Insurance Agency
(919) 774-3400
2817 S Horner Blvd
Sanford, NC
Services
Insurance and financial services

Insurance Needs for Landlords

Insurance Needs for Landlords


So, you've managed to get into the housing market and buy a property as an investment? Good idea! Now you'll have to figure out what you need as a new landlord and one of the most important things is insurance on your rental property.

In order to protect your investment, you really have to have insurance. You will have some unique insurance needs as the person who owns the property, but does not reside there. After all, it will be the tenants responsibility to insure the contents. But the structure is your responsibility.

As a landlord, liability is also a larger issue for you. What if your tenant is hurt on the rental property? You need to be sure that if you are sued, you have the insurance to help you out.

Last, but not least, as a landlord you need to protect your income stream and that's your rental income. If the structure is sufficiently damaged that it is impossible for the renter to occupy your property, you need to be able to cover that rental income in order to meet your obligations, including the mortgage on the property, if any. This is where you have to think carefully about what your true needs are and buy the right coverage.

Take heart! While it may sound intimidating, insurers have already designed policies for the landlords needs. Do keep in mind that there will be variation in these policies, so you'll have to check the fine print and pick the one that best suit's your situation. Shopping around will give you a better idea of what is available in coverage and at what price.

Having said that, always ensure that your policy has at least the following:

  • Coverage for the physical structure (for either named perils or on an open-peril basis)
  • Coverage for other structures on the property, including any storage sheds, garage buildings or other upgrades. In most cases, your basic policy will give you coverage equal to 10% of the value of the main building. Be sure that is enough.
  • Coverage for a...

Click here to read the rest of this article from Insurance Guide 101

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