Fire
Because of modern safety codes, fires have become rarer, but the fires that do start tend to
cause total
destruction of the property.
Water
Broken pipes and appliance leaks are the most common and overall the most expensive property
damage for
rental properties.
Windstorm, hail, & lightning
Roof damage from storms has become increasingly common as the intensity and frequency of
storms have
increased over the last two decades.
Lawsuits
Liability protection covers the cost of defending you and settling claims from tenants and
their guests
for injuries sustained on your property.
Vandalism & theft
Malicious mischief coverage, as it’s known, covers repairs to broken glass, graffiti
removal, and
replacement of stolen or damaged property like shared washing machines.
Riot and civil commotion
When violent protests break out, riot coverage can pay to fix property damage caused by
looters and
protestors.
Injury
Injury protection can keep you from getting stuck with the cost of medical bills if a tenant
or visitor
gets injured on the property.
Bonus coverages
Many policies also include coverage for a long list of other perils such as riots or civil
commotion,
explosions, volcanic eruptions, and damage caused by vehicles