Understanding Investment Property Insurance Needs
If you own property and plan to rent it out, you will need to obtain insurance specifically for rental properties. Don’t assume you are covered under a standard homeowner insurance policy. Real estate investors and landlords have unique insurance needs.
There are several important types of coverages landlords should consider. Some of the most common coverages are listed below.
Loss of Rents:
If your property becomes uninhabitable due to a covered loss, your insurance policy can reimburse you for the rental income you lose while the dwelling is being repaired or rebuilt.
Personal Liability Coverage:
Protects you from liability claims/ lawsuits that may be filed against you by tenants or visitors who sustain bodily injury or property damage while on your premises.
Optional Coverage:
There are many options for enhanced coverage’s such as building ordinance or law, tenant relocation, landlords personal property, fuel oil leakage and water back up coverage.
How Can MTM Help?
MTM’s trained insurance professionals can assist you in determining the policy that best fits your needs. We can help you with:
- Understanding your policy
- Saving you money
- Filing a claim
- Local service with Massachusetts locations in North Andover, Billerica and Haverhill. In addition, we are licensed in many, states including but not limited to NH, ME, VT, CT, NJ and RI..
How Much Will Investment Insurance Cost?
The price of this insurance is largely based on the value of dwelling, the number of units, and location. With our state of the art software, we can help you arrive at the cost to replace this dwelling.
Discounts & Advantages
- Smoke Detector
- Interior Sprinkler
- Burglar Alarm
- Fire Alarm
- Green Discount - clients elect to go "paperless" and receive their policies via email
- Renewal Discount
- Account Discounts for multiple policies
Investment Insurance Request Form
We are here to help. Our office hours are Monday through Thursday 8:30 am -5:00 pm and Friday 8:30 am to 3:00 pm.
**Please be advised that we cannot bind or alter coverage via fax, voicemail, text, email or social media.**
(Do not enter personal sensitive information)
