Landlord Insurance Cost Calculator
About Landlord Insurance
Landlord insurance (also called dwelling fire or rental property insurance) protects rental properties against damage, liability claims from tenants, and loss of rental income. It costs roughly 15–25% more than standard homeowners insurance due to the added risks of tenants and rental activity. Key coverages include dwelling protection, liability, and fair rental value (lost rent if the property becomes uninhabitable). Your tenants should carry their own renters insurance — landlord policies do not cover tenants' personal belongings.
Frequently Asked Questions
What does landlord insurance cover?
Landlord insurance typically covers the building structure, detached structures, liability for tenant injuries, and loss of rental income if the property is damaged by a covered peril and becomes uninhabitable.
Do I need landlord insurance or homeowners insurance?
If you rent out a property you don't live in, you need landlord insurance. Standard homeowners policies exclude commercial rental activity and may deny claims if the home is rented out.
Should I require tenants to have renters insurance?
Yes. Requiring renters insurance in lease agreements protects both you and your tenants. It covers tenants' belongings and provides them liability coverage, reducing the risk of costly disputes.
Does landlord insurance cover tenant damage?
Intentional damage by tenants is generally excluded. Accidental damage may be covered but often subject to a deductible. Some policies offer specific tenant damage endorsements.
How does having multiple units affect premiums?
Multi-unit properties (duplexes, triplexes, small apartment buildings) generally have higher premiums due to increased occupancy risk, though per-unit costs may benefit from economies of scale.
Results are estimates only. Actual landlord insurance premiums vary based on property type, tenant history, claims history, and insurer underwriting. Consult a licensed insurance professional for accurate quotes.