Landlord Insurance in Utah – Custom Insurance Solutions
Landlord Insurance is very similar to Homeowner’s Insurance, except is specifically designed for property, including housing and occasionally items, that are being rented to tenants. In Utah, Landlord Insurance is of paramount importance for those looking to rent out or lease their property.
Do I need Landlord Insurance?
There is nothing in state law that requires you to purchase a landlord insurance policy when you have property to rent. It is, however, a wise decision. Tenants may not always be what you expect, they may not behave or value things the way you would hope.
Some of the assets that should be considered when considering Landlord Insurance include the building itself, garages, sheds, or other structures related to the property, and even the appliances such as microwaves, washers, or dryers, that you have included in the rental agreement. It’s important to speak with an insurance agent to assess your specific needs and purchase a policy designed for your individual needs.
Utah Landlord Insurance:
In Utah, each landlord and rental situation is unique. Landlord Insurance can be largely tailored to your specific needs and assets. Burglary, vandalism, or even governmental changes such as building code violations are all additional items that can be added to your policy to protect your assets and your money.
For a Utah landlord, your property undergoes a shift from a home into a place of business. Costs of doing business can vary widely, and Landlord Insurance is a surefire way to keep your costs down.
In Utah, Landlord Insurance will possibly also compensate you for lost rent due to the building becoming uninhabitable after incurring substantial damage that is covered by the insurance policy.