Landlord Insurance Checklist Explanation - Other Property

Gila Insurance Group has put together a landlord insurance checklist of things you should discuss with your Insurance agent. While it’s nice to have the list, the question is why are these so important? Here we will break this down, and explain piece by piece why you need to have these conversations.

Other Structures  
Value of Other Structures (Garages, Fences, and other structures) ______
   
Property  
Value of landlord property (Appliances, Furnishing) ______
Loss Settlement Option for Property ______
   
Loss of Use/Loss of Rent ______
 
For landlords these may not be the most critical points of coverage. However, these things can be important when it comes to attracting tenants.

Other structures – These are things like sheds, garages, fences and pools. While you may not think of these things as important, they can increase curb appeal and aid in attracting and retaining tenants. Failure to insure these items can be costly.

Value of landlord property – If you are furnishing the home, covering the appliances and furniture can be important. Usually there are limitations on how these things are covered.

Loss Settlement option – The simple question here is; in the event of a claim do you want new stuff, or just enough cash to replace these things via a craigslist hunt.

Loss of use/Loss of Rent – if your investment property burnt down, how will you make the mortgage on it? What’s your plan? Loss of rents is a coverage that can actually pay you rent as if there had never been a loss. How much would you need? How long will it take to rebuild the home? These are all questions that are important to have before you have a loss.

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Gila Insurance Group LLC

805 W Court St. S
Safford, AZ 85546

Toll Free - (877) 784-6787
Local - (928) 428-6440
Fax - (888) 634-6384


About Gila Insurance Group

Customers choose Gila Insurance Group LLC as their insurance agent because they like being able to fill out one application online and then getting multiple quote from highly rated insurance companies. They like the friendly staff that takes the time to help them understand what they are purchasing. They like that the staff is trying to get the best coverage for them at an affordable price, and they LOVE that once they are customers Gila Insurance Group monitors their rates. If rates start to get out of hand they love that they have someone looking out for them to see if they can find a better option!

While Gila Insurance Group LLC serves Safford, Thatcher, Pima and all of Southern Arizona, they are also licensed in 32 states and serve clients from all over Arizona, California and this great Nation. Gila offers a variety of products including auto insurance, homeowners insurance, RV insurance, and business insurance. However, Gila has several specialties which include insuring investment properties such as rental properties, and fix and flip projects and Manufactured and Mobile homes.