Renting out your home is a great way to develop a second income, especially if you don’t have a mortgage on the house. However, in addition to maintenance fees and other standard costs, you might be forgetting rental property insurance. Whether you have personal property you allow the tenants to use, such as a furnished house, or you want to cover property damage, you need this insurance.
It’s hard to make money off of a rental property if you don’t protect your assets. Rental property insurance gives you the peace of mind you need for your protection. You hope you never need this type of insurance, but many types of property damage may happen over the course of renting out your home. An insurance company like the Pierce Insurance Group gives you a quote on the insurance, and you can even save money by combining other insurance policies.