Landlord Policy Insurance Quote | What You Need To Know

Owning rental property brings opportunity and risk, especially when unexpected events happen. A landlord policy insurance quote helps you understand how much it will cost to protect your investment, rental income, and assets each year. Most landlords in the U.S. pay between roughly $2,100 and $4,000 per year for rental property insurance, though some pay less or more depending on coverage, location, and property type. This figure is on average about 15% to 25% higher than standard homeowners insurance, reflecting the extra risks of renting out a property.

Renters and landlords alike often ask important questions before requesting a landlord policy insurance quote, such as:

• What coverage options should I include in my landlord policy insurance quote?
• How do factors like location, property value, and tenant type affect my quote cost?
• Where can I find accurate and competitive landlord policy insurance quotes without hassle?

You’re in the right place. This guide breaks down what you need to know about obtaining a landlord policy insurance quote, how insurance works for rental properties, and ways to compare quotes easily so you get coverage that fits your budget and risk profile. We help landlords, property managers, and rental investors make better decisions about managing their properties, including understanding key costs like insurance. Stick with us to make your next landlord policy insurance quote simple, clear, and confidence-building.

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What is a Landlord Policy Insurance Quote?

A landlord policy insurance quote is an estimate that shows how much it will cost to insure a rental property. This quote is provided by an insurance company after reviewing details about the property, the location, and how the rental is used. It helps landlords understand the expected yearly or monthly premium before buying a landlord insurance policy.

A landlord policy insurance quote usually covers more than regular homeowners insurance. It is designed specifically for rental properties and often includes protection for the building, liability coverage if a tenant or visitor gets injured, and loss of rental income if the property becomes unlivable due to a covered event. Insurance providers calculate the quote based on factors such as property value, location, number of units, and coverage limits.

In the U.S., landlord insurance policies and quotes are regulated at the state level, with guidance from bodies like the National Association of Insurance Commissioners (NAIC), which helps ensure fair insurance practices across states.

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A Good Example of a Landlord Policy Insurance Quote

Below is a simple example of what a landlord policy insurance quote may look like for a single-family rental property:

This example falls within the common U.S. range, where landlord insurance often costs 15%–25% more than standard homeowners insurance, depending on risk and coverage level. According to HomeGuide, many landlords pay between $2,100 and $4,000 per year for landlord insurance on average

We help landlords better understand property costs, risks, and planning decisions, making it easier to evaluate quotes like these and manage rental properties with confidence.

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What Factors Affect the Cost of Landlord Insurance?

The cost of landlord insurance is not the same for every property. Insurance companies look at several risk factors before giving a price. These factors help them decide how likely it is that a claim will happen.

Here are the main factors that affect the cost of landlord insurance:

• Type of property: Single-family homes, apartments, condos, and short-term rentals all have different risk levels. For example, short-term rentals usually cost more to insure due to frequent tenant changes.
• Property location: Properties in high-crime areas or regions prone to floods, hurricanes, or wildfires often have higher insurance rates.
• Property value: Higher-value properties cost more to rebuild or repair, which increases insurance premiums.
• Coverage amount: More coverage for the building, liability, or rental income leads to higher costs.
• Deductible chosen: A higher deductible lowers the premium but increases out-of-pocket costs during a claim.
• Claims history: Previous insurance claims can raise future premiums since insurers see repeated claims as higher risk.
• Credit history: Some insurers use credit-based insurance scores to assess risk. A strong credit history may help lower rates.
• Type of tenants: Student housing or high-occupancy rentals may be seen as riskier than long-term family tenants.
• Lease length: Short-term leases often cost more to insure due to frequent turnover and increased wear and tear.
• Multiple policies with one insurer: Bundling landlord insurance with auto or home insurance may qualify for discounts.

Insurance rules and pricing practices in the U.S. are overseen at the state level with guidance from the National Association of Insurance Commissioners (NAIC).

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What Is the Difference Between Landlord Insurance and Homeowners Insurance?

Landlord insurance and homeowners insurance serve different purposes, even though they may look similar at first.

Homeowners insurance is designed for people living in their own homes. Many policies do not cover rental activity due to higher risk. Some insurers may allow occasional room rentals, but approval is required.

Landlord insurance is built for non-owner-occupied properties. It covers tenant-related risks and often includes loss of rental income. Due to higher exposure, landlord insurance typically costs about 20%–25% more than homeowners insurance.

Difference Between Replacement Cost and Market Value

Many landlords make costly mistakes when choosing insurance because replacement cost and market value are not the same thing.

Replacement cost means the amount of money needed to repair or rebuild your rental property after damage, using similar materials and current labor costs. Construction prices, building materials, and local labor rates all affect this amount.

Market value means how much the property could sell for in today’s real estate market. This value includes land price, location, and demand, not just the building itself.

A property may have a high market value but a lower replacement cost, or the opposite. Insurance companies focus more on replacement cost, not market value, when paying claims. That is why choosing the right coverage amount is very important.

The National Association of Insurance Commissioners (NAIC) advises property owners to insure based on rebuilding costs rather than sale value

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How To Choose the Right Policy Form: DP1 vs. DP2 vs. DP3

Landlord insurance policies often come in three main forms. Each offers a different level of protection.

DP1 and DP2 policies only cover risks listed in the policy. These are often cheaper but leave many gaps in protection. DP1 policies usually pay actual cash value (ACV), which subtracts depreciation from claims.

DP3 policies offer broader protection and usually pay replacement cost, meaning repairs are covered at today’s prices. DP3 policies often include liability coverage and loss of rental income, making them a safer option for long-term landlords.

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How To Get a Landlord Policy Insurance Quote

Getting a landlord policy insurance quote is an important step in protecting your rental property. A quote shows how much an insurance company will charge you based on the value of your property and the coverage you choose. Follow these steps to get accurate quotes and compare options:

Step-by-Step Guide to Getting a Quote

#1. Gather Property Details

Prepare key information about your rental property, such as:

• Property address and type (single-family, multi-unit, condo)
• Year built
• Estimated replacement cost
• Current condition and renovations
• Number of tenants and lease type

Having accurate data helps insurance companies estimate risk and provide a better landlord policy insurance quote.

#2. Decide What Coverage You Need

Consider basic protections such as:

• Dwelling coverage (building structure)
• Liability protection
• Loss of rental incomeOptional coverages may include flood insurance, sewer backup, vandalism protection, and pet liability endorsements.

#3. Use Online Quote Tools

Many major insurers let you request a landlord policy insurance quote online. You can compare prices and coverage quickly without phone calls.

Examples of companies with online quote tools:

• State Farm
• Allstate
• Farmers Insurance
• Progressive
• Liberty Mutual

#4. Contact Local Agents

An independent insurance agent can help you compare multiple quotes from different companies at once. Local knowledge may also help identify region-specific risks like flood zones, crime rates, or weather threats.

#5. Review and Compare Quotes

After you receive multiple quotes, compare:

• Annual premium
• Coverage limits
• Deductibles
• Exclusions and endorsements
• Customer service reviews

Choose the policy that gives you the best protection at a price that fits your budget.

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Tips for a Better Insurance Quote

• Ensure the replacement cost is accurate rather than using market value. Insurance companies pay based on replacement cost, not sale price.
• Bundle your landlord policy with auto or other insurance policies to get discounts.
• Maintain a good credit score, some insurers use credit history to help determine rates.

What Are Some Common Exclusions in Landlord Insurance Policies?

Landlord insurance offers strong protection, but it does not cover every possible risk. Understanding common exclusions helps landlords avoid surprises when filing a claim and plan for extra coverage where needed.

#1. Flood Damage

Flood damage is one of the most common exclusions. Standard landlord insurance policies usually do not cover floods caused by heavy rain, overflowing rivers, or storm surges. Properties in flood-prone areas often require a separate flood insurance policy, which is commonly offered through the National Flood Insurance Program (NFIP) in the U.S.

#2. Earthquake Damage

Earthquake damage is also typically excluded. Cracks to foundations, walls, or structures caused by earthquakes are not covered unless a separate endorsement or policy is added. This exclusion is especially important for landlords in states like California.

#3. Sewer or Drain Backup Damage

Sewer or drain backup damage is another frequent exclusion. Water damage caused by blocked drains or backed-up sewer lines may not be covered unless additional coverage is purchased. Repair costs from this type of damage can be very expensive.

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#4. Landlord Negligence

Landlord negligence is not covered in most policies. Damage caused by poor maintenance, ignored repairs, or safety hazards may result in denied claims. Insurance companies expect landlords to maintain safe and habitable properties.

#5. Tenant-Caused Damage

Tenant-caused damage may be excluded or limited. Normal wear and tear is never covered, and some policies also exclude intentional damage caused by tenants unless extra protection is added.

#6. Criminal Acts

Criminal acts such as vandalism, theft, or illegal activity may be excluded depending on the policy terms, especially if the property is vacant.

Insurance policies are regulated at the state level under guidelines from the National Association of Insurance Commissioners (NAIC). Tools like Platuni help landlords track property conditions, maintenance history, and tenant activity, reducing risk and supporting stronger insurance protection decisions.

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Should I Purchase Additional Coverage for My Rental Property?

Many standard landlord insurance policies do not cover every possible risk. That is why purchasing additional coverage is often a smart move when requesting a landlord policy insurance quote. Optional coverages are usually affordable and can protect against losses that would otherwise come directly from your pocket.

Extra coverage may include flood insurance, sewer or water backup protection, vandalism coverage, or loss of rental income. Properties located in flood-prone or high-risk areas benefit the most from these add-ons. The National Flood Insurance Program (NFIP) reports that just one inch of floodwater can cause over $25,000 in damage to a property.

Before finalizing a landlord policy insurance quote, insurance agents usually recommend reviewing optional riders and asking clear questions about what is excluded. State insurance departments, under guidance from the National Association of Insurance Commissioners (NAIC), encourage landlords to fully understand coverage limits before claims occur.

Do I Need Special Landlord Insurance if I Have Tenants with Pets?

Tenants with pets can increase insurance risk. Many landlord policies limit or exclude damage caused by animals, so additional coverage may be needed.

Helpful risk-reduction steps include:

• Requiring a signed pet agreement
• Collecting a refundable pet deposit
• Requesting proof of renter’s liability insurance
• Limiting high-risk or aggressive breeds
• Scheduling regular property inspections

Some insurers offer pet liability endorsements that can be added to a landlord policy insurance quote for better protection.

How Often Should I Review My Landlord Insurance Policy?

Landlord insurance should be reviewed at least once a year, usually at renewal time. Reviews are also important after renovations, rent increases, or changes in local construction costs.

Building materials and labor prices often change yearly. The U.S. Bureau of Labor Statistics shows steady increases in construction costs over time

Reviewing your landlord policy insurance quote regularly ensures coverage limits still match replacement costs. We help landlords track property updates, tenant changes, and insurance needs, making reviews easier and more accurate.

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How Can I Save Money on Landlord Insurance?

Saving money on landlord insurance does not mean compromising protection. With smart choices, landlords can lower their premiums while still securing comprehensive coverage. When requesting a landlord policy insurance quote, consider these strategies:

• Increase your deductible: Choosing a higher deductible lowers your annual premium. Just ensure you can cover the deductible if a claim arises.
• Maintain your property: Keeping your property in good repair, updating electrical, plumbing, and safety systems, can qualify you for “well-maintained property” discounts.
• Bundle policies: If you own multiple rental properties, insuring them with the same provider often results in multi-policy discounts.
• Shop around and compare quotes: Comparing rates from multiple insurance companies ensures you get the best price for the coverage you need.

Insurance experts estimate that landlords who compare quotes regularly can save up to 20% annually on premiums without reducing coverage quality.

Platuni make this process easier for landlords and property managers. While Platuni is primarily a property management platform, it helps landlords track maintenance, document property details, and plan insurance needs, making it simpler to request accurate landlord policy insurance quotes and avoid unnecessary costs.

Using these strategies not only saves money but also ensures that your rental property is adequately protected. Smart insurance planning with tools like Platuni gives landlords peace of mind, reduces financial risk, and allows for smoother property management operations.

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