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Homeowners or Landlord Insurance?

Published: September 2011

If you're planning on renting property to tenants for more than occasional use, then you're a landlord. And there's a lot more to being a landlord than just protecting your property, so a homeowners insurance policy may not be sufficient for your needs. You may need Landlord Property Insurance. Read on to find out which policy is best for you.

A man filling out an apartment lease form, while the landlord is getting ready to give him keys to the rental property.

How Often Will You Be Renting Out Your Property?

If you or your family will be occupying the property most of the time or if you only plan on renting it out for occasional events like annual festivals, then the protection offered by homeowners insurance typically offers sufficient protection. In fact, if you already have a homeowners policy, you may be able to add an endorsement for a secondary residence to your coverage.

But if you'll be renting out your property more often than that or need insurance for investment properties, then consider Landlord Property Insurance, which offers special built-in protections for landlords.

What Landlord Insurance Covers —and Homeowners Doesn't

As a landlord, you need greater protection in certain areas that homeowners don't. Perhaps the most important protection that Allstate's Landlords Insurance Policy offers is Fair Rental Income, which protects you if your property becomes uninhabitable. Under any covered loss, you're covered for the rental income you would have received from your tenants for as long as it takes to replace or repair your rental unit, up to 12 months.

Landlords often require greater liability protection against injury claims or property damage. Allstate's Landlord Insurance Policy includes liability protection, typically covering you for legal counsel and fees and any damages that you might be obligated to pay. And in case you're sued due to a covered loss, Allstate steps in to provide legal counsel to defend you. When considering what type of policy you need, remember that liability protection is included with each Landlord Insurance Policy, but is typically an optional add-on to a regular homeowners policy.

Download our PDF on Landlord Insurance Policy coverage for more information on covered losses and the complete range of landlord protection we offer.

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Talk to Us About Your Landlord Insurance Needs

Whether you have a second residence, an investment property, or you're simply renting out a room in your house, an Allstate agent can help you design a Landlord Insurance Policy tailored to your situation.

Call us at 1-800-ALLSTATE (1-800-255-7828), or an agent near you to see how an Allstate Landlord Insurance Policy can cover your structure and protect against liabilities.

Any potential exclusions/limitations shown on this site are intended to be hypothetical examples and educational in a general nature only. They are not intended to represent an exhaustive list of actual exclusions present or not present in any Allstate policy. Carefully read your policy as the definitions, coverages and limitations contained in your policy supersede any information provided on this website.

Savings and coverage subject to terms, conditions and availability. Savings will vary. Allstate Insurance Company, Allstate Indemnity Company, Allstate Property and Casualty Insurance Company, Allstate Fire and Casualty Insurance Company, Allstate New Jersey Insurance Company, Allstate New Jersey Property and Casualty Insurance Company, Northbrook, IL. © 2011 Allstate Insurance Company.

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