Rental Property Insurance
Tennessee Landlord Insurance
One of the best investments you can make is real estate and there are a lot of different options to consider in Tennessee. Perhaps you would like to buy a large apartment complex with many units. Maybe you wish to start out with a small apartment building, a strip mall or several single family homes. Regardless of your needs, you need to have the right kind of insurance to protect your interests. Without the proper coverage, you might be leaving yourself open to some major losses and some could be catastrophic. Let’s look at the example of Paul R.
Paul worked for many years as manager of a restaurant in Bristol. He thought about owning his own restaurant someday and had saved up quite a bit of money. However, as Paul was researching options he realized that being a landlord may be less risky than being a restaurant owner. He found a local apartment building with 12 units for sale.
Paul thought the building was a good buy and he went to his insurance professional for advice. His agent was independent and had several insurance company policies he could offer Paul. The experienced agent helped Paul choose a comprehensive business insurance policy that covered all his risk factors. Choosing the right insurance professional was the smartest thing Paul could do because when the time came to file a claim, he was properly covered. At Veritas Risk Management, we believe that we are the right agent for you! We have the experience and expertise to find the best protection possible.
What Is Landlord Insurance And Who Needs It?
Landlord coverage is designed for people who rent out buildings, apartments, and residences. It also covers those renting commercial buildings and structures. Insurance for landlords should be considered by the following people:
- Apartment building and complex owners
- Trailer park owners
- People who rent out private residences or vacation homes
- Businesses who lease part of their buildings
- Student housing owners
- People or organizations owning malls, strip malls, and shopping centers
What’s in a Standard Rental Property Insurance Policy?
- Commercial Property Insurance
- General Liability Coverage
- Fire insurance
- Theft and vandalism coverage
What Landlord Insurance Options Do I Have?
You may need to consider these coverage options:
- All peril coverage
- Additional liability protection
- Commercial Auto Insurance
- Flood insurance
- Earthquake damage insurance
- Sewer backup coverage
- Lease cancellation insurance
- Office insurance – protects your offices and equipment including computers, printers, copiers, and such.
- Replacement cost – as opposed to fair market value reimbursement
- Workman compensation for your employees
- Employee theft insurance
Where to Find the Best Rental Property Insurance In Tennessee?
When you need insurance for your rental units in the Tri-Cities you can depend on the many services from Veritas Risk Management. We are a full service independent insurance agency with trained risk management professionals to take care of your needs.
As independent agents, we can offer you so much more than an agent working for a single insurance company. When you have more options you can find the right coverage and the right price. We do all the insurance comparison shopping for you. We offer several important features for Rental Property Insurance policies, like:
- As much as 100 million dollars in coverage for each location
- Deductible options from $250 all the way to $100,000
- Special rates for newer units less than ten years old
- Apartment management firms discounts
- Insurance for higher risk owners with multiple claims
At Veritas Risk Management we don’t just sell you an insurance policy and then walk away. We are a part of your risk management team and we are here to answer your questions and show you all the available coverage options. In addition, we also can take care of your Home, Auto, and Life Insurance needs. To find out all we can do for you, fill out our quote form and we’ll contact you. You also can call our office in Johnson City at (423) 292-4142 for more information.