There are a variety of reasons that Indiana homeowners become real estate landlords and eventually investors. Some have made a deliberate choice to acquire real estate while others became "accidental" land lords due to unforeseen situations. When the marketplace slumped back in 2008 real estate values fell. This created an unprecedented opportunity for those with hard cash to buy real estate cheap. It isn't any big surprise that this led to a drastic surge in the number of landlords in Indiana.
In addition to owning an insurance agency our founders are real estate investors as well. We discovered long ago that there is a strong demand for Indiana Vacation Property insurance, but very few insurance agencies that will help. Real estate investors experience unique challenges on a daily basis and it's important that you partner with a well-informed insurance agency that understands this niche. Renting out a property can be financially rewarding or devastating. In order to avoid the latter you have to prepare for the unforeseen and protect your investment. The clearest way to cover your rental is with Vacation Property Insurance Indiana.
What is Covered Under a Typical Indiana Vacation Property Insurance Policy?
Indiana Vacation Property Insurance policies can be tailor-made to meet your specific needs. This list is not comprehensive and we always recommend speaking to a licensed agent before choosing a policy.
1) Property Damage: This will provide coverage for your dwelling as well as any detached structures like a detached garage or a shed
2) Loss of revenue: In the event that you have damage to your rental causing it to be unliveable, your policy will help compensate you for the Vacation Property income you are losing during the repairs
3) Liability Coverage: This is perhaps the most important coverage area that is often forgotten about. If your tenant or a visitor gets injured on your Vacation Property you may find yourself in a legal nightmare. Liability coverage shields you and your assets in the event that you are sued
Who Needs A Vacation Property Insurance Plan?
The easy answer to that is anyone who leases out a house. If you lease your home a standard home owners insurance policy will not provide adequate protection. Homeowners insurance is designed to provide coverage for people living in a home that they own. If you are renting your home out, most insurers will consider your home owners insurance policy null and void. That is the reason why every single landlord must buy an Indiana Vacation Property insurance policy.
Vacation Property Insurance Indiana - How Can I Get It?
I’m so happy you asked! If you are ready to partner with an insurance agency that truly appreciates the needs of landlords, then we’ve got your back. In addition to being highly knowledgeable, we will also most likely help you save money. With all the carriers that we represent we are bound to find you some savings without having to sacrifice coverage.
Call now to speak live: (888) 424-5911 or begin your online quote now!
Vacation Property Insurance Indiana - (888) 424-5911