A Dwelling Fire insurance policy covers a building that is not occupied by the owner. There are several differences between a policy for an investment or rental property insurance policy and a Homeowners Insurance policy in Texas. This is the case for most rental or investment properties.
Some of the types of properties thatare often covered with Dweling Fire policy include:
- Single Family Home
- Mobile Home
A Dwelling Fire policy covers the structure but does not always include contents and/or liability. Personal property coverage can be added through an endorsement on your dwelling fire insurance policy. If an owner provides some furnishings in a rental property an endorsement can protect against a loss from any covered perils. Liability can often be extended from the owner’s homeowners insurance policy, but an umbrella insurance policy is often recommended in addition. Many insurance companies will limit the number of property’s that can be covered liability wise from the homeowners policy. Once an investor has multiple investment or rental properties one Umbrella insurancepolicy can extend liability coverage to all properties. A property owner can be sued for the actions of their tenants or any injury to the guests of a tenant. Once someone owns 3 or more investment or rental properties a habitational insurance policy might be beneficial. Loss of rent can be added to some policies and there are a lot more coverages included in a habitational policy. Contact us for a quote or if you have any questions regarding these types of properties.
We help individuals with their rent houses, and investment properties insurance needs in the North Texas areaincluding the cities Fort Worth, Arlington, Grapevine, Southlake, Keller, Hurst, Euless, Bedford, Watauga, Azle, Pantego, Argyle, Roanoke, Trophy Club, and Mansfield.