Rental Property Insurance

[Reyed Mia (Apprentice, DIU)]

Rental Property Insurance

You've got a lot invested in your rental property. Not just your money, but your time. And since an ordinary condo unitowners or homeowners policy won't cover you, you should consider the specific protection of either our Rental Dwelling Policy or our Rental Condo Unitowners Policy. They're created to protect your valuable property, shield you from liability claims, even provide lost rental income if your property is too damaged to rent due to a covered loss.

Take a Closer Look at our Rental Dwelling Policy

What's covered?

The State Farm Rental Dwelling Policy covers accidental, direct physical loss to your rental dwelling and your personal property located there, based upon the coverage provided by your policy.

This policy may help with the following coverages:

Dwelling Coverage: To pay for covered repairs or reconstruction of the dwelling and other structures on the same property.
Personal Property Coverage: To pay for covered losses to your property located at your rental dwelling. This includes furniture and other personal property rented with or used to maintain the property.
Loss of Rents Coverage: To reimburse you for fair rental value lost if your rental dwelling is damaged by an insured loss that causes the property to be uninhabitable.
Liability Coverage: To protect yourself financially against costly liability lawsuits.

What's not covered?

While the State Farm Rental Dwelling Policy provides broad coverage, it does not provide coverage for every loss. Examples of losses not insured include, but are not limited to:

Damage caused by continuous or repeated seepage or leakage of water or steam.
Water damage caused by flood or underground water.
Earth movement including earthquake and landslide.
Damage caused by settling, deterioration, contamination or nuclear hazard.
Damage caused by birds, rodents, insects or domestic animals.

Discounts and other helpful details

Home Alert Discounts
You may qualify for insurance discounts if you install fire, smoke, or burglar alarms or any other home monitoring system. If you're considering the purchase of a home monitoring or home automation system, check out our special offers for State Farm customers.

Inflation Coverage
This coverage automatically increases the amount of insurance on the dwelling and personal property as inflation increases the cost of replacing your property. The changes are based on the movement of an inflation index and are reflected in the premium on each renewal.

Replacement Cost Dwelling Coverage 
Pays for the cost to repair or replace the dwelling up to a specified limit.

https://www.statefarm.com/insurance/home-and-property/rental-properties/rental-homes