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Landlord Insurance

Landlord Insurance Explained

This type of insurance is engineered to protect a residential property from any damage that may occur as a consequence of natural events or by some kind of man-caused action. The normal policy will protect the policyholder’s major structural aspects of his or her property such as the foundation, plumbing, doors, windows, roofs, and more. Also, any exterior builds like fences, gates, or walkways can also be covered under this kind of insurance plan.

 

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Who Benefits

Landlord insurance is specifically designed for those who own residential properties that are rented out to tenants. Rather than providing insurance coverage for the renters, this insurance is offered for the protection of the landlord’s interests. The rental properties can be apartments, condos, townhomes, or single-family homes; they all can come under the protection of landlord insurance.

How Does It Work?

Landlord insurance is similar to other insurance in that monthly payments of premiums are required and, when a claim needs to filed, deductibles paid are also all part and parcel to receiving the benefits. All these aspects determine the final annual policy costs for the rental property owner. A claim can be filed to receive a payout in order to properly repair structural damage or any detached items like appliances, sheds, and other valuable personal items that are landlord-owned but also enjoyed by tenants.

What It Does

Landlord insurance works by providing financial protection against such things as a fire that is accidentally set or even one that is caused by arson. This insurance can be put to use to wholly rebuild a property that has been completely destroyed or to repair damaged parts of the structure.

The greatest amount a policyholder can receive is directly related to the market value of the covered property at the time of its loss. This type of coverage can payout for property damage as a result of weather-related events like severe thunderstorms, tornadoes, hurricanes, and snowstorms. With this policy coverage, even vandalism and other purposeful acts of destruction can be covered under a landlord’s insurance policy.

Big Benefits

A big plus in carrying good landlord insurance coverage is the enjoyment of the peace of mind that is inherent in knowing, for example, that you can count on compensation for lost income if you need to evict a tenant. Renters are sometimes needed to be moved out of a property that is rendered uninhabitable due to disasters and accidents. In this instance, a landlord has the ability to file a claim and receive a payment that is equal to the sum that would have been collected from tenants had the destructive event not happened. Should tenants damage a rental property, having this coverage means the owner doesn’t have to worry about any out-of-pocket expenses for repairs. This coverage can be a great deal and, maybe, a necessary one for many landlords.

Good customer service and rates for both home and auto.
Ruth
Ruth
Joe was so kind and helpful when I reached out with questions concerning my auto ins. He gave me honest, no pressure advice that I was very appreciative of. Looking forward to working with him in the future.
Meteor Burger
Meteor Burger
John and his Team are always there to help us out. We carry various insurance policies we bundle and they make sure we are always getting the best service. I would recommend this team to everyone!
Mary Milsk
Mary Milsk
Shannon is the Best. Make sure you call "Young Insurance" because she use to work for Look Insurance but after she branched out and away from Look, they took her telephone number away and if you call that number a snotty guy will answer and won't give you any information on how to get in contact with Shannon. He seems that he doesn't like the fact that she is doing very well and offers a better insurance rate. So keep that in mind when looking her up.
Tim Simmons
Tim Simmons
Best of the best. Shannon is a gem that has gone above and beyond for my wife Lori West over the years. She just helped me get the best priced policy and is so very pleasant to work with. Larry also spoke with me and helped with our concerns. A. Young is by far the best. Thank you!
Phil West
Phil West
Super responsive, and dedicate their time to explain any questions you have. On top of the great service, they got me a great deal. If you're looking for a new insurance agency this is it.
M Rut
M Rut
20 years old and they got me the best rate!
Joseph Kovalchik
Joseph Kovalchik
Working with the agents here is a breeze. Best rate for the right coverage!
Andrew L
Andrew L
The staff is very knowledgeable and helpful and always takes the time to help me with my problem. I highly recommend them.I had occasion to change over my home insurance to A.Young Agency, and once again I was met with exceptional service by Joe LeDuc and Christine the office manager. They make one feel like they are family and go above and beyond to make one’s experience easy and stress-free. I highly recommend them.
Anne Lee
Anne Lee
All staff are very responsive and helpful great agency
Eric Doty
Eric Doty
Shannon is fantastic. She always takes time to acknowledge me when I stop in. The team there is friendly and I feel like they, although very professional, have a very personal investment in their business. 🥰
Mark Rouleau
Mark Rouleau
I've know John for many years and he's a Great Guy who knows his stuff.
M.C. Cawley
M.C. Cawley
I absolutely love this insurance company! They always call when there's a better deal available to save me money! This company keeps in touch and cares about their customers and even remembers my birthday and sends a birthday card! If there's a problem with the account they're quick to investigate. They always have a solution! Thank you A Young I love all of you! Even though the pandemic has been hard on my family you always know how to make me smile! GOD BLESS YOU ALL!
Lillie Collins
Lillie Collins
Working with Young Insurance is a pleasure.staff is friendly,knowledgeable,and will work with you to get the insurance you need at the best rates.
Kevin Cavanaugh
Kevin Cavanaugh
I just love Shannon, she's the best!! She works so hard to get the best rate for me.I would highly recommend this company.
Barb Genta
Barb Genta
Got me what I needed, when I needed it and at the price I needed.
Dale Hartzfeld
Dale Hartzfeld
Nice friendly local place for insurance
Kathleen Hoadley
Kathleen Hoadley
Joe is the best! Friendly staff that cares about you. I felt like family. Really appreciate the guidance and ease of switching insurance companies. Thank you - Nikki
Nikki Quintanilla
Nikki Quintanilla
Everything we buy in life has three parts to it.Service, price and quality. Normally, one can only expect two out of three. Very rarely do you ever get the total package. A Young Insurance is an insurance company~ that has excellent service , excellent quality and excellent prices! 10 🌠
Tracy Richardson
Tracy Richardson

1400 Scott Lake Road, Suite AA
Waterford, MI 48328