A rental property is a great way to earn extra income, but making sure you are properly protected will save a headache in the event you experience a loss.
Rental income property insurance is similar to traditional home insurance in many respects. As a rental income property owner, you need the home to be in good condition so you can rent it out and earn money. However, if something happens to the rental unit, it may be unlivable and thus can’t be rented to a tenant. For this reason, insurance companies offer protection against the possibility that you’ll lose rental income for a period of time.