- Personal Insurance
- Surety & Fidelity bonds
- Commercial & Brokerage Insurance
Owning a rental property is a great way to earn additional income or to save a little extra for your retirement. However, part of being a landlord, just like other investments, is protecting your rental houses and apartments against things like fire, vandalism, tornados, storm damage and theft. That’s where landlord insurance from the experts GMM Insurance can help.
Insurance on your rental properties, similar to your homeowner’s insurance policy, covers the structure, land and common areas of your rental property. However, where this type of coverage differs from standard homeowner’s policies is that there is no coverage for the contents of the rental units. The items inside the property are the tenants’ responsibility. However, your landlord insurance will generally cover items in common areas. This includes lobbies, exercise rooms, laundry rooms and more. Additionally is covers items left outside in the common lawn area. In most cases, landlord insurance will compensate you for your loss of income from rent while your building is being repaired or rebuilt. This protects you in case of a fire, storm or other disaster.
Another key feature of landlord insurance is liability coverage. This protects you from financial loss should someone have an accident on your property and sue you.
GMM Insurance has been helping local property owners in Lexington, SC since 2005. Our business was founded on the idea of making sure that our clients are well-educated about insurance policies. We even can help you with the wacky, weird, and wild. We’ll write any insurance policy, no matter how strange or off-beat. Let us help you create a policy to fit your unique needs. To learn more about how GMM Insurance can help you protect your Lexington, SC area rental property, contact us today.