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Are you considering renting out your extra property, or investing in an apartment complex or condominium? Becoming a landlord can have many benefits, but also comes with specific risks.

In order to determine if you need landlord insurance, it is important to understand the purpose of a landlord insurance policy in Illinois. This review discusses the standard coverage in a landlord insurance policy, who needs one and how much a policy generally costs. It will also outline some of the factors that may affect the cost of a policy.

Landlord insurance usually includes dwelling coverage, which protects against sudden and accidental damage to the rental property. If accidental damage is done to your rental property by a tenant, your landlord insurance policy is designed to help cover your loss for repair or replacement. This type of loss may be a kitchen fire, broken windows or damage to household fixtures such as toilets, basins or cabinets.

By law, landlord insurance is not required in Illinois, but it is strongly encouraged for individuals who own property that they rent to tenants. This review discusses landlord insurance, highlighting who needs a policy to protect themselves (and their business) financially and the types of landlord insurance coverages to consider for your policy.

Landlords often request that tenants add them as an additional insured to their renters’ insurance policy. It is helpful to understand why this may be requested and the benefits for the tenant as it pertains to adding their landlord as an additional insured on their renters’ insurance policy, which this review discusses in detail.

Landlord insurance is strongly encouraged for anyone who owns property or land that they rent to a tenant. A homeowner insurance policy does not protect against certain risks if the policyholder does not live in the home themselves and is usually not sufficient coverage for rental properties. This review discusses in detail the specific insurance coverage needs for landlords.

Landlord insurance is an often overlooked necessity for property owners who rent their property to a tenant. It is helpful to have a complete understanding of what landlord insurance is, how it works and who it is for, in addition to answers to other frequently asked questions, to determine if landlord insurance is right for you.

Illinois is rapidly becoming one of the most popular rental markets in the United States and those landlords must protect themselves financially with a reliable insurance policy on their rental homes. Since homeowners insurance typically does not cover the property if the policyholder does not live there full time, landlord insurance is strongly encouraged for owners of rental properties. This review discusses the basics of landlord insurance in Illinois to help you determine if this policy is right for you.

As a landlord, if you are unable to collect rent due to tenant negligence, a natural disaster or any other unforeseen reason, a policy for homeowners insurance will not provide coverage for this loss. However, this particular loss is covered under a landlord policy. This review discusses the importance of landlord insurance and what all a typical policy should cover.

Becoming a landlord property manager is a great way to add consistent and reliable revenue, which may serve as supplemental income or give you the opportunity to retire. A property manager also called a real estate manager, is a person (or real estate firm) that manages the ongoing upkeep and renting of a property. The primary owner does not reside in this property and instead, provides it for rent to another party in exchange for a service fee.