Rental Property Insurance
If you own a rental property in New York, property insurance from The Putnam Agency can provide you against various risk exposures.
Do you own a rental property in New York? Property insurance is a policy covering the property owner/landlord from financial losses associated with their rented property. Rental property insurance is a necessity for protecting yourself and your property. Your rental property is likely one of your biggest investments and a valuable source of income. Would you remain financially stable if the building you own were damaged or if a tenant was injured on your property? For landlords in NY, property insurance is an essential tool that can protect you in such situations.
As a landlord, you need to be aware that your homeowners insurance policy does not protect your rental property. It is important to also carry rental property insurance. The Putnam Agency will help you select the best possible rental property coverage available.
If you’re a landlord in New York, property insurance from The Putnam Agency can protect you against risks such as:
- Damage to your property
- Damages you could be legally obligated to pay
- Legal counsel and fees
- Up to 12 months of lost rental income
Typically for landlords in New York, a property insurance policy will offer coverages for only the building – with the option to add protection for the contents within the building. If you have furnished the interior on your own, including the additional coverage is a wise decision. Otherwise, most landlords will leave this responsibility to the tenants. Some property owners will even require their tenants to purchase a renters insurance policy.
No two rental properties are identical in NY. Property insurance policies will vary depending on the unique specifications of the rental property. You can elect coverage against risks such as fire, flood, natural disasters, theft, vandalism and more. If you have any questions about the type of rental property insurance that’s right for you, don’t hesitate to utilize the knowledgeable agents at The Putnam Agency as a resource.
Contact us today. We can be reached at 888-258-4209 or by simply filling out the form on this page.