Rental Property Insurance
If you’re currently renting out your home in Palm City or Okeechobee, Fl you’re probably exposed to a hidden risk. You see, what most property owners don’t realize is that your homeowners insurance policy doesn’t cover your property if it’s damaged by fire while you’re renting it. You could, quite literally, be playing with fire, and without ever realizing it.
Renting out your property to a third party requires a lot of trust on your part, but the risk of fire is not something anyone can plan for. Even the most diligent and honest tenant can’t predict if or when a fire might happen, which is exactly why you need the extra coverage offered by rental property insurance.
After all, you rely on the income stream from your rental property. Imagine waking up to find that not only has your rental property been damaged by fire, but your additional income has gone up in smoke with it. You’re now down several hundred dollars each month, and you have to find the money to rebuild your rental property from the ground up. That’s not a situation any property owner wants to find themselves in.
Rental property insurance will cover a year’s worth of lost rental income in the case of a dwelling fire, giving you enough time to renovate your property, and prepare it for the rental market. It buys you breathing space to get the renovation work done, without negatively impacting your finances.
Don’t take chances with your rental property – speak to Murray Insurance Services today.