Texas Landlord Insurance/Dwelling or Rental Property Insurance

SOME THINGS TO CONCIDER 

Deductibles are the amount of money you have to pay toward a loss before your insurance company starts to pay a claim on your policy. The higher your deductible, the more money you can save on your premiums. Insurance companies in Texas typically recommend a deductible of at least 1% . Some companies will allow a lower deductable.

HOW MUCH SHOULD I INSURE FOR 

You will want to insure for the amout it would cost to rebuild the property back to its origianl condition. The Market value has no bearing on the amount the property should be insurance for. A few things to concider are debris remove (usually around 7-10 sq), the cost of highering a builder to build a single home is usually much more expansive than when they are building out a neiborhood.

RENTERS INSURANCE 

The landlord is NOT responsible for the tenant's/renter's personal belongings (typically). The tenant should be advised or required to obtain RENTER INSURANCE . In many cases a renter can get coverage for 100k liability for under $120 a year. This is good protection for them and the landlord, incase of a loss. 

You're the Landlord

You're the landlord and it's your money. You should talk to the agent about the proposed dwelling insurance and be sure you are not paying for things you don't need in your policy.

The landlords insurance should protect you from a possible tenant lawsuit if they or their guests were injured and to protect the home from fire or other peril so that you can repair or rebuild should the need arise.

Insurance companies have become more selective and more thorough on inspections. Be sure to have your property in shape - for yourself, your tenants and any inspections that are required by your insurance company.

Get a Texas Landlord Insurance quote Now! 

Mancy carries will offer you a discount if you insurance your Texas Homeowners insurance and your Car Insurance with them.  Do not miss out on this discount!