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Habitational Insurance

Those who are engaged in certain types of businesses may need to consider habitational insurance. This is a special type of policy designed for those who frequently rent certain types of dwellings to others. The insurance differs from a typical property insurance policy, and there are specific items that should be included on a policy in order to ensure a landlord has adequate coverage. Who needs Habitational Insurance? Habitational insurance policies cover a number of different dwellings including:

  • Boarding houses
  • Apartment complexes
  • Student dormitories
  • Hotels
  • Bed and breakfast Inns
  • Condominiums and townhomes
  • Timeshares

In addition:

Those who have a large number of rental houses may also want to consider taking out a habitational policy to cover any losses, particularly if they have special equipment that is dedicated to the maintenance and
upkeep of these structures.

What it should Cover?
Several different items should be included in a habitational insurance policy. At a minimum, it should include general liability coverage that would cover your losses if a tenant or visitor were to be hurt on your property. You should also consider coverage for wind, fire, hail or other storm damage for your building and equipment alike. Depending upon your general area, you may need flood or earthquake insurance. There should also be an allowance for theft and vandalism of property.

Although not required, you can add additional riders that would cover you for things such as equipment breakdowns and environmental cleanup. Your habitational insurance policy will depend on a number of different factors, which is why you should contact us for assistance in choosing the right coverage.