Being a landlord can be a lucrative and fulfilling endeavor, but rental properties aren’t without their risks. From property damage to potential lawsuits, Vermont landlords should consider the potential fallout of a disaster or accident. Carrying rental property insurance can help provide important protections against risks such as these.
Rental property insurance is specialized commercial insurance for landlords who own investment properties. The insurance is widely used by single-unit and multi-unit residential landlords, but it’s also often useful in commercial and industrial leasing situations.
The vast majority of property investors who rent their properties should carry rental property policies. Not carrying insurance generally creates enormous risk exposure, and this insurance usually is the most appropriate type of insurance when leasing properties in Vermont.
For landlords who have more than one property in Vermont, multiple rental property insurance may be especially applicable. This particular type of rental property policy is intended to insure multiple buildings that aren’t connected to each other, and the cost of a multiple rental property insurance policy is frequently less than the cumulative cost of insuring each building separately.
Landlords who aren’t sure whether they need a standard rental property policy or a multiple rental property insurance policy can get guidance from an insurance agent who specializes in these kinds of policies. A knowledgeable agent will be able to make an informed recommendation based on an investor’s situation and portfolio.
Rental property policy premiums are based on many different factors. A few of the details that can impact rates are:
An independent insurance agent can help landlords find out how much they’ll need to pay for a rental property policy that suits their needs. Independent agents are able to compare policies from several insurance companies, making it easy to identify both coverage and rate differences.
If you own investment properties in Vermont and need help insuring them, contact us at Paige & Campbell Insurance. Our independent agents will work closely to identify your coverage needs, and we’ll then help you find the best rental property insurance solution for your situation. With our assistance, you can be confident that both your properties and yourself are well protected.
Barre
P.O. Box 469
297 North Main Street
Barre, VT 05641
(802) 476-6631
Bradford
P.O. Box 392
25 North Main Street
Bradford, VT
(802) 222-5222
Waitsfield
5197 Main Street, Suite 3
Waitsfield, VT 05673
(802) 496-3118
Mike Bancroft is simply an amazing agent. When my business got burglarized, I was so upset and didn't know what to do. I contacted Mike and he was very prompt in calling me back and he put my mind at ease. He made me feel so much better and handled all of the paperwork immediately. His customer service is top notch and I highly recommend him to be your insurance agent!