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Compare Landlord Insurance to Protect You and Your Properties in 2017

Choosing to rent out properties you can be a wonderful source of extra income. However, it can also feel like a total nightmare if something goes wrong. That is why a landlord insurance policy is so incredibly important.

In order to help you learn more about insurance for landlords and compare landlord insurance options, we have compiled a list of the six best landlord insurance companies in 2017.

compare landlord insurance quotes

Award Emblem: Top 6 Best Sites to Compare Landlord Insurance Quotes

We will take time to show you what each company offers with their landlord building insurance. This will be a landlord insurance comparison that lets you see which landlord insurance policy will fit best with your unique situation.

It is safe to assume that you will want cheap landlord insurance that still provides you excellent coverage and protections, so we have also linked you to where you can get a personalized landlord insurance quote for your area.

In no time, you will be able to use your best landlord insurance to bring you the peace of mind that your rental properties will make you piles of cash in 2017…not drain your bank account.

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AdvisoryHQ’s List of the Top 6 Best Landlord Insurance Quotes

List is sorted alphabetically (click any of the landlord insurance names below to go directly to the detailed review section for that landlord):


Top 6 Best Landlord Insurance Options | Brief Comparison & Ranking

Best Landlord
Insurance Companies

Year Founded

Other Offerings

Allstate

 

1931

Auto, Home, Renters, Condo, Business, Life, Roadside Insurance, etc.

Farmers Insurance

 

1928

Auto, Home, Life, Rental, Umbrella, Pet Insurance, etc.

Liberty Mutual Insurance

 

1912

Auto, Property, Renters, Life, Identity Theft, Pet, Business Insurance, etc.

MetLife

 

1868

Homeowners, Condo, Renters, Mobile Home Insurance, etc.

Trusted Choice

 

N/A (Independent Insurance Agents)

Auto, Home, Life, Business Insurance, etc.

USAA

 

1922

Comprehensive Insurance, Banking, Investing, Real Estate, Retirement Planning, etc.

Table: Top 6 Best Companies to Compare Landlord Insurance | Above list is sorted alphabetically



What Is Landlord Insurance?

Before we compare landlord insurance or show you how to get a landlord insurance quote, it is important to make sure you know exactly what insurance for landlords will mean for you.

landlord insurance quote

Image Source: Pixabay

The idea is actually quite simple: a landlord insurance policy covers you from facing financial losses at your rental property. This may include some or all of the following:

  • Protection from damages to the property and structures/belongings on your property
  • Coverage of liabilities issues
  • Reimbursement from lost rental income when your property is unlivable for covered reasons
  • Protection from vandalism/burglary loss
  • Coverage if medical issues arise on the premises
  • And much more

As we compare landlord insurance, you will see that some companies offer more coverage and protections in their basic landlord building insurance. These will be cheap landlord insurance options in comparison to those who charge extra for add-ons.

Note that we are focusing mostly on house insurance for landlords throughout this article, but getting commercial landlord insurance is extremely important, too, so we have provided information as we were able.


Do I Need a Landlord Insurance Quote?

While it may not always be legally required to get residential or commercial landlord insurance, it is an extremely important choice if you want to protect yourself against any all-too-common issues with rental properties.

By choosing one of the best landlord insurance policies, you will be protecting yourself against high-dollar mishaps, including destroyed property, medical issues on the premises that you could be liable for, and lost rental income due to property issues.

While it may seem like a burden to pay a monthly premium, you are saving yourself from potentially devastating bills in the future. And if you compare landlord insurance wisely, you could be able to get cheap landlord insurance.

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Detailed Review – Top Ranking Best Landlord Insurance

Below, please find a detailed review of each landlord insurance policy on our list of top insurance for landlords. We have highlighted some of the factors that allowed these landlord property insurance/liability insurance policies to score so highly in our selection ranking.



Allstate Review


First up on our list of the best landlord insurance choices for 2017 is Allstate. Below is a list of some possible customizable options for this house insurance for landlords.

best landlord insurance allstate

Image Source: Allstate

Some will be included with your landlord building insurance; others are add-ons:

  • Landlord Property Insurance for Dwelling: The rental property and attached structures
  • Other Structures: Garages, sheds, etc.
  • Landlord Liability Insurance: Coverage if you are sued
  • Fair Rental Income Coverage: Pays rental income you may lose if your property is unlivable due to a covered loss
  • Premises Medical Protection: Coverage for reasonable medical expenses on your rental property
  • Vandalism: Add-on to cover repair/replacement cost
  • Burglary: Add-on to cover repair/replacement cost
  • Rental Property Under Construction: Add-on to cover dwelling during renovations or builds
  • Building Code: Add-on to cover heightened cost of enforcing building laws or codes

On top of some of the best landlord insurance, Allstate can also provide you flood insurance and personal umbrella insurance to further your protections.

Get your personalized landlord insurance quote for your specific location by finding an Allstate agent in your state. The agent can also inform you if your landlord insurance policy provides you other discounts on services such as carpet cleaning.



Farmers Insurance Review


As we continue to compare landlord insurance, we will look at our second landlord insurance policy: Farmers Insurance.

As one of the best landlord insurance providers, Farmers offers different types of coverage that you can take advantage of:

  • Comprehensive Landlord Property Insurance (does not automatically include other structures or personal property)
  • Landlord Liability Insurance
  • Named Peril Coverage: These “perils” can be fire, windstorms, hail, etc. named in your landlord insurance policy
  • Modified Replaced Cost: Receive a settlement equivalent to the cost of repairs or actual cash/market value
  • Medical Payments: Covers anyone other than policyholder if they are hurt on premises
  • OPTIONAL Other Structures coverage
  • OPTIONAL Personal Property coverage
  • OPTIONAL Loss of Rents
  • OPTIONAL Landlord Personal Insurance

One side benefit to keep in mind as you compare landlord insurance is that Farmers Insurance offers a tenant screen program through TransUnion called The SmartMove™ Solution. This can make screening stress-free.

Get your personalized landlord insurance quote for your specific location by finding a local Farmers agent by state.

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Liberty Mutual Insurance Review


Next up on our landlord insurance comparison is Liberty Mutual Insurance. This house insurance for landlords is comprehensive and easily customizable.

liberty mutual cheap landlord insurance

Image Source: Liberty Mutual

Liberty Mutual’s insurance for landlords covers the following:

  • Residential rental properties including single family, duplex, triplex, or quad buildings
  • Structures on the property including sheds, garages, and more
  • Items on the properties that you own including microwaves, washer/dryer, tools, etc. that are being used by the tenants

You can also tailor your landlord insurance policy to meet your needs by including the following options:

  • Liability coverage against claims
  • Fair Rental Value Coverage income reimbursement when your property is unlivable after a covered loss
  • Inflation Protection to account for increasing repair costs
  • Personal Injury Protection for claims of libel, invasion of privacy, wrongful eviction or entry, etc.

As you compare landlord insurance, get your personalized landlord insurance quote for your specific location by finding a Liberty Mutual agent in your city.



MetLife Review


Let’s continue to compare landlord insurance by looking at another best landlord insurance option: MetLife.

MetLife offers two basic types of landlord building insurance: rental buildings for one to four families (single family, duplex, triplex, quad) and condo insurance for landlords. These policies include:

  • Landlord Property Insurance: This includes private structures on the property, personal belongings used by tenants, and rental income loss
  • Landlord Liability Insurance: Covers you if you are sued in any mishap with your rental
  • Medical: When somebody gets hurt on your covered property
  • Identity Protection

You can also choose two add-on options on top of your landlord building insurance listed above. Keep these in mind as you compare landlord insurance policies:

  • Extended Limits: Covers unexpected increases in building or repair costs; can provide 25% more insurance
  • Coverage A Plus: Provides the highest protection when you need to rebuild or repair destroyed property, even if costs go above what is stated on your policy

Get your personalized landlord insurance quote for your specific location by filling out contact information so a MetLife representative can contact you.

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Trusted Choice Review


For our landlord insurance comparison, we will now look at Trusted Choice. As one of the best landlord insurance choices, they will offer you a basic coverage policy with optional add-ons. Here is what is always included:

  • Building Insurance: includes damage to main structures as well as sheds, garages, retaining walls, pools, gardening tools, etc.
  • General Liability: includes coverage for accidents or injuries on the premises

You can add on the following options to your landlord insurance policy:

  • Legal fee coverage
  • Loss of rent coverage
  • Rental business insurance
  • Umbrella liability
  • Workers comp
  • Additional natural disaster coverage

Note that Trusted Choice has business insurance options if you are seeking commercial landlord insurance as well.

Get your personalized landlord insurance quote for your specific location by entering your zip code to find a local Trusted Choice agent. You can also ask about a landlord insurance quote for commercial landlord insurance.


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USAA Review


The last company we will look at as we compare landlord insurance is USAA. As one of the best landlord insurance options, their plan highlights show you how it pays to choose USAA.

  • Coverage for Multiple Properties (up to 10 tenant-occupied rentals): Covers fire damage, vandalism, and more
  • Personal Landlord Liability Insurance: Covers loss or injury that occurs on your property (also includes medical fees)
  • Income Replacement: Covers rental payment loss during repairs and rebuilds

If you are searching for cheap landlord insurance, know you can save up to 10% on your insurance for landlords when you also insure your primary property and your automobile. Ask more about this when you get your landlord insurance quote.

When you do your own landlord insurance comparison, get your personalized landlord insurance quote for your specific location by logging into your USAA account online.

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Conclusion – Top 6 Landlord Insurance Quote Choices

Now that you have taken a look at some of the best landlord insurance options in 2017 with our landlord insurance comparison, you can begin your own research into choosing the top option for your properties.

Take your time to compare landlord insurance options we mentioned. This way you can find the top cheap landlord insurance that suits your unique situation by getting a landlord insurance quote for your property’s location.

This way you can enter 2017 feeling confident in the safety and protection of your rental properties by taking advantage of one of the best landlord insurance policies around.



AdvisoryHQ (AHQ) Disclaimer:

Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.