Your rental property is valuable to you. In Texas, it is a good idea to have a landlord protection policy in place to protect your property from the mistakes of others. Because it is more than just a home or business, with threats from those who live in the building, it is important to have a comprehensive level of protection on this real estate. Keep in mind that you stand to lose an income not just an asset should something go wrong with this property.
What Does Landlord Protection Policies Offer?
In situations where the people cannot live in the home as the result of a covered loss, this type of insurance will allow you to claim the rental income you would have received if your tenants could be in the property. For example, if the tenants are forced to move out due to a covered occurrence, this policy will pay out for a specific length of time, usually for up to twelve months. This will continue to pay to you until the unit is repaired or rebuilt, or when the policy term is over.
This type of protection covers many of the risks your property is facing. This includes damage from vandalism, theft, fire, and other types of malicious and unprovoked incidents. Policies tend to have specific restrictions in place, though. Be sure you read through the policy to know what is covered and what is not.
For those in Lufkin, Texas, getting this type of protection for your property is a must. No owners or landlords should be without this type of protection since it can mean significant loss of income, not to mention your assets.
To find out what your options are, contact an independent agent for more information. In fact, you can get a quote for the services you need right here.