When most people think of landlords they think of somebody renting out a house or apartment to tenants.
While this is true, landlords can be a very diverse group.
They also rent out commercial properties or their own home.
They all do share one thing in common though.
They are all at very serious risk unless they are covered under a landlords insurance policy.
The main reason to have a good policy in place is because of the potential damage a tenant can do.
This includes both malicious and accidental damage.
They also are at risk of theft in some cases.
They also face legal charges stemming from any accident that result in an injury to third parties that are on their premises.
This would include visitors that are not on the lease.
These injuries may happen on a residential or commercial property.
The law knows no boundaries in that regard.
The list of what is covered and what is insurable vary depending on where they live.
Many people will think their home owners insurance will cover them in case of something happening.
This is simply not the case.
No matter where you live, there are different laws that apply when you are renting instead of actually living there.
The good news for landlords is that there our policies available for them and they all offer varying degrees of coverage.
They simply have to go to an insurance office and look them over until they find the best policy for their needs.