Investment Properties
I get a lot of questions from people who are concerned about insuring their investment properties. There are a lot of great policies out there for this specific need.
Most policies will allow you to choose an amount of coverage, if any, for personal property. This is important as not all properties are the same. Some people choose to furnish a rental property and would need more coverage than those who do not.
Getting Liability coverage on that property is important too. When you are shopping around for coverage for your investment you want to be sure Liability Insurance is included.
The last concern I would have when shopping for insurance for my investement property is coverage for Loss of Rents or Loss of Use. Many policies will offer a percentage of coverage like 10% or 20% of your dwelling value. Some will let you choose an amount based on rental income. You will want to be sure you are getting the coverage you need when shopping for this insurance. If you do lose your investment property in a fire, you are also losing income and want to be sure that will be supplemented in the time of a claim.
Karen Shanley
910.202.3676
Filed under: Karen Shanley "Nationwide Insurance"
