Insuring your Rental Property

If you own a rental property, not on the premises of your primary dwelling, you may insure it separately or have it insured on the same policy as your home insurance. Coverage is usually more limited than with dwellings that are occupied year-round and owner occupied.

The following are important coverage considerations:

• cover for landlord's property
• cover for rental income
• cover for vandalism by Tenants
• cover for sewer back-up

The availability of certain cover varies by insurance company. The quality of the location as well as the controls put in place by the landlord have a significant impact as to the availability of the better policy forms.

Please consult one of your brokers to assist you to determine the best solution for your individual needs.