protect your rental properties with reliable coverage
Summary of landlord insurance
Allstate® landlord insurance helps safeguard your rental property against sudden, accidental losses. Coverage includes damage from fire, wind, hail, and other covered perils, plus liability protection, premises medical protection, and fair rental income to offset lost rent if your unit becomes uninhabitable. The policy also offers options for personal property used in connection to the rental, loss assessment, and tools to understand your deductibles and coverage limits. With discounts and trusted claims support, Allstate makes it easier to protect your investment with confidence.
What is landlord insurance?
Owning and renting out a property can be a smart investment and a great experience. By taking some steps to make sure you're covered if something goes wrong, you can focus more on keeping your property in great shape and less on the unexpected challenges. With an Allstate® landlord policy, you'll get protection from sudden and accidental losses and the bills that come with them, including the possible loss of rent and even the cost of rebuilding your property if there's damage from a natural disaster.¹ In other words, you'll have the peace of mind when you welcome your tenants to the place they'll call home.
What you need to know about landlord insurance
How much does landlord insurance from Allstate cost?
Many factors, such as the types of protection and the coverage limits you choose, can impact the cost of your coverage. Review your options so you can choose the types and amounts of coverage that best fit your needs. A multi-policy discount could help lower the cost of your monthly premium if you bundle your landlord policy with another Allstate policy, such as home or auto.
How to compare landlord insurance quotes
If you're gathering quotes from several companies, make sure you choose the same coverage types, limits and deductibles for an accurate comparison.
Choose your coverage
Review coverage types included in a standard policy, as well as optional coverages you want to add.Consider your limits
Think about your personal finances and needs when choosing your coverage limits.Select your deductibles
Some landlord coverages come with a deductible, or the amount you pay toward a claim. For an accurate comparison, be sure to select the same deductible on each coverage for every quote you request.
Landlord insurance FAQs
Although landlord insurance is not required by law, there are a few reasons why it’s a good idea to consider it:
- If you have a mortgage on the property you’re renting out, your lending company may require you to have a certain amount of coverage.
- Potential tenants may request proof of landlord insurance before signing a lease.
Landlord insurance typically includes dwelling coverage, which helps protect against sudden and accidental damage to your rental property. This includes accidental damage caused by one of your tenants. Keep in mind, though, you will likely need to pay your deductible before your insurance benefits kick in. Plus, your policy will typically only cover losses up to a certain amount, so it’s important to know your coverage limits and adjust them as needed.
Typically, landlord insurance does not cover floods and water (sewer) backups. Flood insurance is a separate policy you can buy for additional coverage, which your Allstate agent can help you with.
In most cases landlord insurance doesn’t cover maintenance-related issues and equipment breakdowns, such as a washing machines wearing out due to natural wear and tear. Intentional damage like vandalism is also not covered. For example, the dwelling coverage in your policy may help pay to repair damage caused by a tenant moving furniture, but it probably won’t cover cleanup costs if a dissatisfied tenant spray-paints the walls.