Fair rental income protection doesn't cover damage to your property. However, most landlord insurance policies include dwelling coverage to help cover damage to the residence caused by certain perils, such as fire, lightning and wind. This coverage may help pay to repair or replace the structure — up to the limits stated in your policy — if it is damaged by a covered loss.

Be sure to read your landlord insurance policy carefully to make sure you understand what types of situations it may and may not cover.

Your insurance provider can help answer any questions about landlord insurance so you can choose the policy that fits your needs. Then you can move forward with the peace of mind that comes with knowing you have a safety net in place for your property and rental income should the unexpected occur.