Posts Tagged ‘landlord policy’
How does a property get valued for insurance?
Good insurance policies require that a building be valued at reconstruction cost, which is based upon labor and material costs, debris removal, demolition, and other factors. This is usually not the same value as the market price. The purchase price of multi-family homes and commercial properties is normally valued based upon the income it generates,…
Read MoreDoes a policy on a multi-family home cover loss of rental income?
A good one should provide at least 12 months of lost income if your multi-family is damaged by a covered peril. More can be added to ensure that you have enough money to cover for the rent you can’t collect while the house is being repaired.
Read MoreWhen do I need a landlord policy?
If you completely rent a one to four family house and there is not a business on the premises, you need a landlord or dwelling insurance policy. Dwelling policies are similar to home insurance in many respects but are more expensive, as there is a greater chance of having a claim when the owner is…
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