4 Top Ranking Landlord Insurance Providers

There is a lot more to the value of an insurance policy than just price. For landlord’s insurance, the more flexible a policy, the better it is. But the trick is in picking a reputable insurance company with wide coverage and affordable prices that you can also count on to be there when you need it most. Below are some of the best in landlord insurance for your various needs.

  1. Liberty Mutual for Inflation Protection

This insurance company automatically adjusts your policy limits to keep up with the rate of inflation. Even if costs of repairs increase, your coverage protection will have your back.

Apart from inflation protection, the landlord insurance from Liberty Mutual offers liability coverage, fair rental value coverage, premise liability coverage, discounts for multi-policy, early shopper, and new or renovated home. Additional policy options and benefits for emergency repair services are available, too. These include 24-hour claims assistance, contractor network referral, flexible payment, and billing options.

A.M Best gives Liberty Mutual an A for financial strength and it is ranked second in J.D. Power & Associates customer satisfaction.

  1. Allstate for Policy Bundling

Bundling has several advantages. If you have multiple policies, bundling allows you to enjoy additional discounts and expand your coverage, too.

The landlord insurance from Allstate is the best option for wide coverage. It includes dwelling protection, other structures protection, liability coverage, fair rental income coverage, premises medical protection, vandalism coverage, burglary coverage, and rental property under construction. If you need to add coverage to a property to meet building code ordinances, this is available, too. You can get coverage for improvements like maintenance, repair, or building demolition.

Since 1931, Allstate has been insuring people for the better. It has an A+ Superior financial strength rating from A.M Best and has received 4.5 out of 5 star rating for claims processing from a customer survey conducted by Insure.com.

  1. State Farm for Additional Structures Coverage

Customers prefer State Farm because of its reasonable rates and good services. The company has been around for a long time – founded in 1922! It is A rated by A.M Best for financial strength and has a history of outstanding customer service.

Its landlord insurance is one of its best policies. If you are the type to be constantly improving a property, this is the insurer you want. State Farm offers great coverage for additional structures, including garages, storage buildings, swimming pools, fences, retaining walls and other structures.

Other products include building coverage that includes owned personal property used to maintain building or premises, comprehensive general liability, loss of income, equipment breakdown, and tenant move back expenses, and heating and air-conditioning loss reimbursement.

In addition, if you have become the unfortunate victim of identity theft, they offer coverage for data compromise and identity restoration, too. Ordinance or law coverage is also available. This covers costs due to enforcement of municipal laws or ordinances for construction or repair of damaged buildings caused by an insured loss.

  1. Foremost for Multiple States

If you have multiple properties across states, get the Platinum Package from Foremost. It offers wide coverage that is specialized for landlords like you. The policy covers up to $3,000 for personal property, pays 10% of loss of rental income, landlord personal injury coverage, $300,000 of premises liability coverage, replacement cost on dwelling, other structures coverage up to $10,000 or 10% of dwelling, and reduction in coverage when vacant applies after 90 days.

Meanwhile, its basic landlord coverage includes comprehensive property coverage, named peril coverage, optional replacement cost, agreed loss settlement, actual cash value, and extended replacement cost and liability.

The company is rated A Excellent by A.M Best and is a member of the Farmers Insurance Groups.

Explore these companies and get your landlord insurance policies on point. Remember to do your research, compare prices, and always match your needs with the right provider.

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MJ Usner