Landlord Insurance in Buffalo NY

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Rental property can provide many benefits to property owners. Supplemental income and equity can go a long way towards planning for retirement. While there is extra work for the landlord, over time, it cn pay off significantly. Insurance is often overlooked in the rental property equation. Many landlords consider insurance a “cost of doing business”. However, with your personal name often tied to rental property, it is essential to make insurance a priority. Not only does proper coverage protect the physical dwelling, it also protects all of the other assets you’ve worked so hard to build up.
Dwelling Coverage

Similar to a homeowner’s policy, landlord’s insurance provides coverage on the dwelling, other structures, and can provide contents coverage. Often times, these policies are written at Actual Cash Value (ACV). Typical homeowners policies are typically written at replacement cost. Actual Cash Value factors in depreciation and is the inferior level of coverage.

Contents Coverage

Contents coverage can provide coverage for any of the items the landlord keeps on the property. Whether the landlord furnishes appliances, or keeps items in the garage, there could be some coverage for a minimal cost.

Loss of Rents

As a result of a covered loss, rental property could be uninhabitable for a period of time. During that time, the landlord would be without the rental income they had grown accustomed to. A comprehensive insurance policy protects a rental property owner against the risk of losing that income.

Premises Liability

Owning rental property exposes an individual to a significant more amount of risk. Having tenants and being responsible for that dwelling/property increases the risk for the owner. It is extremely important to maintain adequate levels of premises liability to protect other assets. Some dwelling fire and landlord policies can provide underlying protection up to $2,000,000.

Personal Umbrella

Since the liability exposure is significantly greater for a rental property owner. It can add peace of mind by inquiring about a personal umbrella. An umbrella is typically a separate policy which provides additional (and often times more comprehensive) liability protection. Umbrellas come in increments of $1 Million Dollars of liability protection. They typically provide additional liability over your home, autos, recreational vehicles, and rental property.




Rental properties are a significant investment for many individuals. Protecting not only that investment but all assets is the primary goal of your insurance. Find an independent insurance agent who can provide you choices in not only coverage, but also comapanies. This can maximize your insurance protection, while minimizing the cost.

Get A Landlord Insurance Quote Today