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Why You Need Rental Property Insurance

Did you know your insurance company can deny a claim if they didn’t know your home is a rental property in Baltimore and Howard County? Not only that, your homeowners insurance policy does not offer the same property coverage and protection against liability, such as liability against injuries sustained by your tenant and their guests, damage to personal property, and loss of rental income.

Many homeowners and landlords are not aware these facts.  And it’s common for homeowners who are moving and decide to rent out their home to forget to tell their insurance company that they’ve moved, so the insurance company does not have a chance to advise them to change their insurance policy.

Injury to Tenants and GuestsLitigation2

Unlike rental property insurance, homeowners insurance policies do not protect you from liability or legal action due to injuries sustained by tenants and their guests on your property.  You can’t always rely on your tenants to maintain your property in a safe condition. Even so, if someone is injured whether it be the tenant or guests the homeowner is susceptible to liability.

Personal Property

Rental homes carry a greater risk of personal property damage and homeowners insurance policies do not provide coverage for damage caused by your tenant. Coverage typically protects you against damage to carpets, curtains, furniture, domestic appliances, household goods, and light fixtures.

Money down the drainLoss of Rental Income

Rental insurance policies offer options that can protect you from loss of rental income for a certain length of time if your property is vacant due to damage that has made it uninhabitable. However, most insurance companies do not cover losses from your tenant breaking lease or evictions.

Every insurance company carry different coverage policies, so make sure you ask what is included in their insurance packages. Having a property manager that follows best practices and are well versed in local, State and Federal regulations can protect you and your investment. At Real Property Management Reliable Solutions, we require all of our clients to carry rental property insurance to make sure their investment is protected and they are protected from legal liability.

Need property management services? Call Real Property Management Reliable Solutions at (443) 990-0011 for a free quote and visit our website at

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