Rental / Landlord Insurance
Your rental property needs different protection than your home.
Whether you own one rental property or several, Alliance can help you evaluate coverage for the building, liability and the risks that come with property you don't occupy yourself.
What landlord insurance covers.
Landlord or rental property insurance is designed for property you own but don't live in. It's structured differently from the homeowners policy on your primary residence.
The Building
Covers the physical structure, walls, roof, systems and permanent fixtures. Replacement value matters here just as it does for your primary home, especially on the Gulf Coast where wind and storm exposure are real factors.
Liability
Protects you if a tenant or visitor is injured on the property and you're found responsible. Liability limits and what's covered can vary significantly between policies, so it's worth understanding before you need them.
Loss of Rental Income
Some policies include coverage for lost rental income if the property becomes uninhabitable due to a covered loss. Not every policy includes this, and limits vary.
What landlord insurance does not replace.
Tenant belongings. Your landlord policy does not cover your tenant's personal property. Tenants need their own renters insurance for that.
Your primary home. A rental property policy is separate from the homeowners insurance on the house you live in. Each property needs its own coverage.
Flood damage. Like homeowners insurance, standard landlord policies generally do not cover flood. Separate flood insurance may be necessary, especially on the Gulf Coast.
Gulf Coast rental properties have specific considerations.
Property Considerations
Construction type, age, condition, occupancy and location all affect what's available and what it costs. An older coastal rental with an aging roof may have different options than a newer inland property.
Liability Exposure
Rental properties carry liability risk you don't face with your primary home. Tenant injuries, property maintenance issues and premises liability are all part of the picture. Adequate liability limits matter.
Wind & Coastal Concerns
Gulf Coast rental properties face the same wind, hurricane and storm exposure as owner-occupied homes, sometimes more, if the property sits unoccupied for periods. Wind deductibles, carrier availability and replacement value all need attention.
Rental and landlord insurance questions
Can I use my homeowners policy on a rental property?
Generally, no. Once you rent a property to someone else, it typically needs landlord or rental property insurance, not a standard homeowners policy. Using the wrong policy type can create coverage gaps if you need to file a claim.
Does my tenant need renters insurance?
It's strongly recommended. Renters insurance covers your tenant's personal belongings and provides liability protection for them. Some landlords require it as a lease condition. Your landlord policy does not cover tenant belongings.
Do I need flood insurance on a rental property?
It depends on the property's flood zone, your lender's requirements and your risk tolerance. On the Gulf Coast, flood exposure is a real consideration for rental properties, especially if the building sits in or near a flood zone. Standard landlord policies do not cover flood damage.
What affects the cost of landlord insurance?
Property location, construction type, age, roof condition, occupancy, coverage limits, deductibles and claims history all factor in. Coastal properties with wind exposure may have different pricing and carrier options than inland rentals.
I own multiple rental properties. Can Alliance help with all of them?
Yes. Whether you own one rental or several, we can review each property's coverage and help you understand what's available across your portfolio.
Can Alliance review my current rental property policy?
Yes. If you're not sure what your current policy covers, or whether it's the right type of coverage for a rental, we'll walk through it with you.
Own a rental property on the Gulf Coast?
Let's make sure it's properly covered.