The landlord insurance package is sometimes misconstrued by many as being the same as homeowner insurance. I guess your misunderstanding is purported by virtue of the near similarity in the meanings of “landlord” and “homeowner”. So which package do you go for if you do not know exactly the one you own? Anyway, you are welcome to enjoy reading this material as you would be glad to know the distinction shortly.

I always want to keep things simple and would like us to tackle this topic as such;

First of all, I put the question to you this way: Do you own where you live? If your answer is yes then what you need to cover this property is a Homeowner Insurance cover. On the other hand if you have leased your home to others or rented it out to tenants then you would need a Landlord Insurance cover. The difference is simple and straight forward.

Having clarified that, the other question I would like to share with you has got to do with who is going to be more committed in taking care of the house between the tenant and you? Obviously, you will take care of your house more than the tenant who can vacate at the least provocation. This, the insurer is well aware. This means in the event that there is damage to the house as a result of the activities of the tenants then you stand a good chance of making a claim. This is usually considered a malicious damage.  For instance if by accident a tenant causes fire to gust your house you have the legal right to forward a claim.

Contrarily to the above, it is simply not the case with the homeowner insurance. What this simply means is that if through your own negligence or mistake cause damage to your house you have no rights whatsoever to call for a claim. It would surprise you however to note that by the extent of the damage you risk being charged with criminal offense should you make a claim.

Considering the above it is prudent to identify certain measures landlords can adopt in order to protect their investment by having a landlord insurance policy.

Ideally, you must make a concerted effort to study who you rent the house to. It is also a normal practice of insurance companies as they consider the nature of the tenants who do occupy the house. Common sense and simple psychology should inform you of the kind of person you accept as a tenant. If the need be, do not hesitate to do further checks by engaging a professional to undertake such character examination for you. This means you need a well behaved and a disciplined person to ensure the safety of your property

One way of getting the best of landlord insurance quote also is to compare several companies. Kudos to the internet a bulk of them is available and easily accessible.
This will help you to get good quote as well as know what other landlord insurance covers are available. However few companies offer the full comprehensive policy to cover the various policies a landlord might demand.

Since a chunk of these companies are online provider are able to offer you a complete control of your account thus giving you the chance to make adjustments when needed. With your personal and secured log in details, you own the key to your account and can even print out as and when you need it.