Affordable Missouri Landlord Insurance

Missouri Landlord insurance is a necessity for protecting yourself and your property, which is likely one of your biggest investments. You need landlord insurance that is comprehensive and affordable. To get low cost rates on the best landlord insurance policies available, simply go to www.selectinsuranceteam.com and enter your quote information and you'll be contacted by one of our licensed insurance professionals, anxious to provide quality coverage at the cheapest rates. Our company will offer you the low priced Missouri landlord insurance quotes on the best Missouri landlord insurance policies. It's quick and easy to compare policies - get your free quotes today!

Missouri Rental property insurance is a policy that covers a Missouri property owner from financial losses connected with their property that is used as a rental for tenants. Generally Missouri landlord insurance will cover the building itself, whether it is a house, apartment, condominium, vacation rental or any other dwelling. There is an option to include the contents with in the building, but the owner can also choose to have a tenant buy their own renters insurance policy to cover the replacement cost of any damaged items.

Each Missouri landlord building insurance policy will be different because the rental properties vary as do coverage needs. However, you'll usually want to have coverage for perils such as fire, flood, lightning, storm, explosion, escape of water or oil, subsidence, theft, vandalism and earthquake -if you live in an area that is prone to earthquakes. The majority of companies will offer the option for additional coverage beyond standard landlord property insurance. This additional rental property coverage may include items such as accidental damage, legal protection, the cost of alternative accommodation if the rental is unlivable, contents coverage and rent guarantee coverage.

Missouri Landlord Renters Insurance
Obtaining a comprehensive Missouri landlords rental property insurance policy will allow you to rent our your Missouri investment property to a tenant with confidence. Missouri Landlords rental property insurance provides protection for your property from damage and protects you from legal and personal liability. Generally, your rental property home insurance will cover the following:

Your rental building, whether it is a house, condominium (condo), building, apartment, townhouse, duplex, quad, vacation rental property or any other dwelling.

Additional private structures, such as a garage, shed or barn.
Any personal contents that are provided by the homeowners for use by the renters. These contents can include appliances, furniture or tools that are stored at the rental property site or provided for use by the tenants.

There are two primary forms of Missouri landlords buildings insurance, which are Missouri landlord rental dwelling insurance and Missouri landlord's rental condominium insurance. The Missouri rental dwelling coverage covers the Missouri homeowners of a rental building designed for one to four families. Rental condominium coverage is for if you own a condo and rent it out to tenants.

Missouri Landlord Building Insurance
When you compare the best Missouri landlord insurance companies, rates and quotes, you must ensure the Missouri rental property coverage will give you adequate protection and liability coverage. The sum insured should represent not your buildings market value, but the full cost to re-build your rental property. The cost to re-build can be much higher than the market value of your rental property. Your Missouri landlord property insurance should cover the cost of you to re-build or pay for damages caused by perils such as the following: severe weather (storms, lightening, floods), fire, smoke, aircraft, explosion, impact from vehicles or fallen trees, subsidence, burst pipes or leakage of oil or water, theft, vandalism, civil commotion, and malicious damage caused by tenants or renters.

When you compare rates looking for a cheap quote, be sure to be aware of what is covered and what is not covered. Just because a rate is cheap, doesn't mean it's the best deal. Make sure your Missouri landlords renters property insurance policy is fully explained to you. If you have a claim but it is not covered by your policy, you could end up paying for it out of pocket, which would negate the cheap rates that you thought you had.

Missouri Landlord Contents Insurance
As a Missouri landlord and Missouri homeowner, you will want liability protection in relations to the contents of your rental property. Contents coverage will protect you against the financial cost of damage to your personal property in the unit you rent to tenants. Homeowners can choose a limited contents policy or full contents policy. Limited contents policies are typically used for unfurnished or partly furnished let properties and will generally cover items such as light fixtures and fittings, curtains, carpets, appliances, and such. Even if the property is sparsely furnished, a landlord or homeowners should consider liability coverage in case of injury to tenants or guests caused by defective cookers, lighting fixtures, or stairs. If there was an incident, the compensation of the claim would be substantial.

For full Missouri contents insurance, you will want ensure you have adequate coverage to replace your lost items in the event a claim needs to be made. When getting landlord insurance quotes and estimates, be sure to talk to your agent about actual cash value (ACV) when considering content insurance for the replacement cost of your belongings. Actual cash value will cover the replacement cost of your items minus the deductible. Otherwise, you will only get what the value of the lost item is in cash. This is an important distinction. For instance, if you bought a laptop 5 years ago for $2,500 but the value of the computer today is only $500, you would only get $500 for the laptop to replace it. Obviously, it will cost more than $500 to replace your laptop. However, with actual cash value for your landlord contents insurance, you will get enough money to replace the laptop with a similar model in today's market. If you have any valuables or unusually expensive items, be sure to talk to an agent about these as you may want to buy a separate rider.

Legal Expenses
Some tenants' personal circumstances during their lease period may cause them to break their lease or affect their ability to pay rent. It may also affect their ability to property maintain the home or may interfere with their plans to move out a the end of their tenancy. This could be due to a job loss, business failure, end of a relationship, accident or illness. If this occurs, you will have to deal with burdensome attorneys' fees, document preparation fees and other related expenses. Legal expense coverage as part of your landlord liability insurance will provide coverage for these expensive legal costs.

Missouri Loss of Rental Income Coverage
By having a rent guarantee as part of your landlords or homeowners coverage, you will be sure that you will receive your rental income regardless of situations that may prevent you from otherwise doing so. Rental property income guarantee protects you from financial hardship if your rental property because unfit to rent due to a disaster like a fire, flood, earthquake, or any other covered event. As a Missouri landlord, you will be reimbursed for any loss of rental income up to your policy limit during the time it takes to repair or rebuild your rental building, vacation rental property, condo or house. In some circumstances, this also covers the rent in instances where there is a tenant in the unit but is unable to pay.

Missouri Landlord Liability Insurance
Landlord liability insurance protects you against bodily injury or property damage lawsuits that could arise from covered losses on your insured rental property. As landlords or homeowners, it is important to protect yourself against any claims that could arise if a tenant or their guest is injured on your rental home. For instance, if a tenant fell down the stairs or hurt themselves due to faulty electric work, you could be held liable as the owner. If you do not have proper landlord insurance, the cost of legal claims could be so great you could become bankrupt.

Generally, this type of Missouri landlord liability insurance coverage is not offered to commercial buildings. If you own a commercial building rather than a rental property such as a vacation home, condo, townhouse, duplex, quad, or house, you will need to look into commercial property insurance policies. Additionally, tenants should be aware that the landlords liability insurance and or landlord contents insurance only covers the fixtures in the rental property, the staircases, elevators, appliances, and such. This does not cover the tenants personal belongings. A tenant should purchase a renters insurance policy for protection of their personal valuables that are in the home.

Missouri Landlord insurance is important for protection of your most valuable assets. Your rental property is an excellent investment and needs to be protected. It is easy to compare landlord insurance policies and rates. You can quickly and easily find cheap rates from local agents by filling out the basic form. You will be contact by landlord insurance companies that provide coverage in your area. Just compare the quotes and save on the cost of your landlord insurance. Take the first step in protecting your valuables = get your free Missouri landlord insurance quotes today! call 1-855-GET-SELECT (438-7353)