El Paso Landlord Insurance
Insurance Plus, providing protection for Property Investors and Management Professionals. Your one stop shop for investment property protection.
Coverage forms for most Texas rental property risks are available at this time covering the expected perils commonly covered on homeowners insurance policy, as well as optional Landlord protection. Forms available are DP1, DP2, DP3. BOP, and Fire Insurance.
Small for let properties can be covered in our Hassle Free DP1 insurance program.
Coverage can generally be effected same day or following day in most cases.
For your convenience, we have many programs that utilize electronic point of sale issue. Some market may require a completed application.
If the property electrical wiring, plumbing and roofing system have all been updated in the last 20 years then you can qualify for a discount on your El Paso landlord insurance rate by using the most recent remodeling date as the age of the structure. Up to a 10% credit.
We are now offering accidental water damage coverage with some DP1 insurance policies on standard Fire, EC, VMM policies. All DP2 and DP3 Polices offer water protection, Flood insurance is a seperate policy as always. This applies to tenant and or owner occupied Homes.
Investment properties can present risks not normally associated with an Owners occupied dwelling. A well thought out Landlord Insurance Policy or Landlord Cover note can be cost effective as well as provide the necessary financial protection required to secure your investment.
Premium Financing is now available on all landlord insurance programs.
Basic Protection needed
- Main Structure (s), Landlord Building Replacement / ACV option.
- Other Out Buildings and structures on the property.
- Contents Coverage (Equipment Appliances, Furnishings, etc).
- Landlords Liability Insurance
- Property Replacement Guarantees.
- Extended Fire, Wind and Hail coverage.
- Accidental Water Discharge from plumbing.
- Loss of Rents Revenue due to a covered losses.
How to save money on your Insurance
We can provide insurance on the main structure as well as certain owners contents. Both Loss of Rents and Liability coverage can be included, Property Managers Professional Liability and Crime coverage are also available options. Risks do not need to be free of losses. This coverage is written on Commercial Mono Line or Package policy Forms.
Property Owners Liability Protection - The Liability portion of your policy protects you in the event of an accidental injury or civil suit associated with your property. Liability coverage can pay the cost of legal defense as well as judgments or medical bills incurred. Landlords Liability Insurance in broad terms is coverage that can provide protection for certain actions or inactions of the named insured that may result in a financial liability. Direct or indirect losses can arise for which an insured might be held financially liable. One never knows when a Liability claim may arise our of our daily activities. Personal and work related issues can lead to unexpected consequences. It is not necessary to be found at fault in a claim in order to held liable. So, a good comprehensive policy is the best choice for ultimate security and protection. Legal defense costs are standard on all insurance policies.
What does a Landlords Policy Cover? - Similar to Homeowners Insurance, A landlords policy covers the typical risks of Fire, Wind, Hail and other familiar perils. Optional coverage often includes Loss of revenue in the event your property suffers damage and is unlivable due to ongoing repairs. For continuity of income, property investors should consider additional coverage such as General Liability insurance, Loss of rent, Business owners insurance or Umbrella insurance when available along with other covered perils. Rental income can be recovered during a period of loss.
1. Update your homes heating, electrical and plumbing systems to modern standards and you may qualify for a discount of as much as 15% on your rental home insurance rate in El Paso. Even though you may like old-fashioned fire places, they may not be as fire-safe as the more modern heating systems available today. Building technology has advanced quite a bit in recent years. There are many ways to make your buildings much safer. In addition to being a lower insurance risk, you can add value to your home structure in terms of its net worth in today's marketplace.
2. Many Texas property owners do not know half the discounts that may be available from your insurer. If you don't know about the factors that effect your final rate, you can not take advantage of them. Be sure to inform your insurance agent about any repairs, major updates you've made to structures or Conveyances. Certain newer appliances can also qualify your for discounts. Insurers do often advertise the most common discounts but generally do not advertise every available discount but that doesn't mean they are not there, it does no harm to ask your agent about ways you can save.
3. The material used use in construction of your property can go a very long way in affecting insurance rates for apartments owners in Texas. Frame Structures provide more resistance to earthquakes. Brick buildings can offer better resistance to high winds and flying debris as well as the occasional auto collision. Those who need Apartment property coverage in the Western United States can often pay lower rates if the buildings are frame because of the earthquakes there. Building your structure with the appropriate material for your state can easily save you 5% to 35% on your rate.
4. Your landlord insurance policy can be both affordable and easy to find when you are working with an agent familiar with the risks investors face. You could save hundreds or even thousands of dollars on your business insurance rates in Texas by comparing coverage quotes. Basic form 1 policies are usually cheaper but may offer less coverage. Special broad form policies offer more coverage for your rental properties and rental income but may not always be best value for the money. Flood Insurance policies are also available. The rule of thumb is to evaluate competing coverage options and make the choice that makes the most sense for your investment exposure. Let us shop the insurance for your residential buildings in Texas.
