Homeowners insurance may cover a roof leak when it results from a sudden event covered by your policy, such as wind, hail, fire, or a falling tree. It generally will not pay to repair a roof that leaks because it is old, deteriorated, improperly maintained, or gradually worn out. The cause of the leak matters…
Owning rental property creates responsibilities that extend beyond collecting rent and maintaining the building. If a tenant, guest, delivery worker, or contractor is injured at your property and claims that unsafe conditions caused the accident, you could face medical bills, legal expenses, or a lawsuit. Landlord liability insurance can help protect you against certain financial…
A damaged sewer line can cause slow drains, foul odors, soggy areas in the yard, sewage backups, and expensive excavation. Replacing the pipe may also require removing landscaping, driveways, flooring, or parts of a foundation. So, does homeowners insurance cover sewer line replacement? A standard homeowners policy may cover the line when it is damaged…
Termites can remain hidden inside walls, flooring, support beams, and other wooden components for years. By the time a homeowner notices hollow wood, mud tubes, sagging floors, or damaged trim, the infestation may already require extensive treatment and structural repair. So, does homeowners insurance cover termite damage? Usually, it does not. Standard homeowners insurance generally…
Foundation damage can range from a small, harmless crack to a serious structural problem affecting floors, walls, plumbing, doors, and windows. Because repairs can be expensive, homeowners naturally want to know whether their insurance policy will help pay the bill. So, does homeowners insurance cover foundation repair? It may cover the repair when the foundation…
A failed water heater can create two separate expenses: replacing the unit and repairing the water damage it causes. Does homeowners insurance cover a water heater? It may cover the water heater when a covered peril—such as fire, lightning, vandalism, or another insured event—damages it. Homeowners insurance may also cover resulting damage to floors, walls,…
Repairing or replacing an HVAC system can cost thousands of dollars. Whether homeowners insurance helps pay the bill depends primarily on why the system stopped working. Homeowners insurance may cover an HVAC system when it is damaged by a covered peril, such as fire, lightning, hail, vandalism, or a falling object. However, standard homeowners insurance…
Landlord insurance protects a tenant-occupied property against covered damage, liability claims, and potentially lost rental income following an insured event. But how much does landlord insurance cost? There is no official rate that applies to every U.S. rental property. Premiums can vary substantially based on location, rebuilding cost, property type, weather exposure, coverage limits, deductible,…
A landlord may be able to repair physical damage to a rental property, but recovering several months of unpaid rent can be much more difficult. Standard landlord insurance generally does not pay simply because a tenant loses a job, experiences financial problems, or stops making rent payments. That is where rent guarantee insurance may help….