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We can help you protect your rental property investment at an affordable price.
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We have access to 100+ leading carriers in Texas to find the best insurance for your rental property.
“Richey Insurance Agency works for you, not just one insurance agency!”
Your rental property is a valuable asset, but without the right coverage, unexpected events could put your income at risk. A solid landlord insurance policy helps cover financial losses from damage, liability claims, and lost rental income.
A landlord insurance policy protects rental properties against risks that could lead to financial setbacks. Here’s what a typical policy includes:
Covers the home’s structure and attached or detached features (garage, fence, shed) when damaged by covered events such as fires, storms, or vandalism.
Helps cover legal costs if a tenant or visitor gets injured on the property and files a lawsuit.
Reimburses lost rental income if the property becomes uninhabitable due to a covered event, like fire or storm damage.
Provides coverage for items left for tenant use or property maintenance, such as appliances, tools, or furniture.
Some losses go beyond the scope of a landlord policy. Coverage gaps exist, and knowing them upfront can help avoid surprises.
| Not Covered | Explanation |
|---|---|
| Routine Maintenance & Repairs | Leaky roofs, plumbing issues, and normal wear and tear require out-of-pocket maintenance. |
| Tenant-Caused Damage | Policies generally exclude intentional or careless destruction caused by tenants. Security deposits or separate insurance may help. |
| Renter’s Personal Belongings | Tenants must carry renter’s insurance to cover their own furniture, clothing, and electronics. |
| Flood Damage | Standard landlord policies do not cover flood-related losses. A separate flood insurance policy is needed for protection. |
Insurance providers offer different levels of protection. The right policy depends on coverage needs and budget.
DP-1 (Basic Coverage) – Covers named perils (fire, vandalism, wind damage) but only pays for actual cash value, factoring in depreciation.
DP-2 (Mid-Level Coverage) – Includes everything in DP-1 with additional perils (falling objects, freezing pipes, burglary). Pays based on replacement cost instead of actual cash value.
DP-3 (Comprehensive Coverage) – Offers the most protection, covering all risks except those explicitly excluded. Losses are reimbursed based on replacement cost.
We know the hard work you put into your rental property. In Texas, rental properties face unique risks, and protecting your investment is very important. With 16+ years of experience serving the Texas community, we are aware of the specific risks rental properties face. We have partnered with top insurance carriers to help you shop for the best rates possible, ensuring your ROI and rental income.
No. Building insurance only covers the physical structure, while landlord insurance extends to rental income protection and liability risks.
Only accidental damage is covered. Any intentional damage or gradual wear and tear falls outside the policy.
A rough estimate is to take a homeowner’s insurance premium and add about 25% to account for the added risks of renting. The final cost varies based on location, coverage limits, and property value.
A standard renters insurance policy covers personal property, liability, and additional living expenses for tenants. Landlords require a separate policy designed for property owners.
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