Best landlord insurance | Bankrate (2024)

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Allstate may be worth considering for landlords looking for personalized coverage. All Allstate policies come with fair income coverage, which pays the rental income you would otherwise earn if your unit becomes uninhabitable due to a covered loss. In addition to standard coverage types, Allstate policyholders can choose from various add-ons, including vandalism coverage for vacant units, building code coverage and rental property under construction coverage. Allstate does not offer online quoting for landlord insurance, so you will have to call the company or contact a local agent for a quote.

American Family may be worth considering for landlords interested in purchasing robust coverage on their properties, such as commercial umbrella liability protection. The company also offers landlord insurance policies for business owners, which cover business essentials that are not covered under typical landlord policies, such as auxiliary structure coverage. Shoppers who are new to property rental and management may appreciate AmFam's Landlord Toolbox, which offers resources on common topics for property owners. These include articles on state tenant laws, property upkeep and tenant selection. However, the insurance company does have limited state availability and no online quote option for landlord insurance.

State Farm landlord insurance policies vary based on whether you rent out a home, condo or apartment, with specialized policies for each property type. All three policy types include loss of rents coverage. The carrier's apartment landlord insurance includes equipment breakdown coverage and heating and air conditioning loss reimbursem*nt, while condo landlord insurance includes inflation coverage and loss assessment coverage. Policyholders may also save with potential discounts for home safety devices. If you're having trouble navigating the landlord insurance market, you may appreciate State Farm's many local agents available for face-to-face service.

Landlord insurance policies from Farmers are fairly basic, but policyholders can choose from a handful of endorsem*nts, like loss of rents coverage, personal property coverage and other structures coverage. If you’re a first-time landlord, selecting a tenant can be stressful. Farmers offers a quick screening tool called SmartMove, which provides in-depth reports on tenant suitability to potentially minimize risks for landlords. Like most other landlord insurance companies, online quotes are not available for this policy type.

Geico may be a great landlord insurance company for property owners looking for robust policies with easy digital property management tools. Geico's website and mobile app allow policyholders to easily manage their policies and file a claim on-the-go. The carrier offers standard coverage types, including loss of rent payments coverage, as well as options add-ons like vandalism coverage and additional building code construction expenses coverage. Unlike many competitors, Geico does offer online quoting for landlord insurance. However, policies are underwritten by affiliate companies, so the actual company underwriting your policy may vary.