St. Croix Falls, Wisconsin
338 S Washington St
Saint Croix Falls, WI 54024
(715) 483-9129

Home Insurance Vs. Landlord Insurance: What You Need to Know June 22, 2016

St. Croix Falls, Polk
Home Insurance Vs. Landlord Insurance: What You Need to Know, St. Croix Falls, Wisconsin

When you’re a landlord, the standard rules about home insurance don’t apply to your rental property. Chances are, it’s not your own residence, and you have different options when covering a building you don’t live in. Trust Uhrhammer Insurance Agency of Saint Croix Falls, WI, to provide for all your insurance needs, including your rental property. You don’t want to ignore your insurance needs for your rental properties because you need to be protected in the event of a major catastrophe.

What’s the difference between standard home insurance and landlord insurance? Here’s what your need to know:

Home Insurance & Renters Insurance

home insuranceBasic homeowners insurance policies are for people who live in the building they own. These policies protect both the building and the possessions inside the building from fire, theft, and other catastrophes. Likewise, renters insurance protects tenants who live in a rental home or apartment by reimbursing them for damage to their possessions in the event something happens to the building they live in.

Landlord Insurance

When you own a building but rent it out for someone else to live in, you need a different policy in place: Your only goal is to protect the building itself, not the contents. This type of policy is known as a dwelling fire policy, and it’s often a bit more costly than standard home insurance. However, you are covered for more than a fire. Almost any disaster you can think of is covered, including storm damage from wind or hail, damage caused by civil disturbances or riots, explosions, and volcanic eruptions, to name just a few unlikely but potentially costly scenarios. 

To find out more about the landlord policy that’s right for you, call Wisconsin’s Uhrhammer Insurance Agency at (715) 483-9129. You can also visit the website for more information.

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