When you hire a property manager to oversee your rental property, it might feel like you're off the hook for everything. But here’s the truth:
Even with a property manager, you still need landlord insurance—because their coverage doesn't protect your investment the way yours must.
Too many investors mistakenly assume their property manager’s insurance covers everything. The reality? Property managers are insured to protect their business, not your building.
This guide explains the key differences between landlord insurance and property manager insurance, what each covers, and how to ensure your rental property is fully protected from damage, liability, and unexpected lawsuits.
What Is Landlord Insurance?
Landlord insurance, also called a dwelling policy (often DP-3), is a specialized insurance policy designed for non-owner-occupied properties that are used for rental income.
🔑 Landlord Insurance Typically Covers:
- The structure (dwelling)
- Detached structures (garage, shed)
- Loss of rental income (if property becomes uninhabitable)
