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Mitten Heritage Fraternal Society of Insurance

13892 Hough Road
Berville, MI 48002

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What to Ask Your Agent About Landlord Insurance

Property investment and renting can be excellent strategies for building a wealth portfolio, preparing for retirement, and dipping your toes in the world of real estate. One crucial step in the process is ensuring that these properties are rightfully insured to safeguard your investment. If you’re in the Berville, MI, area, the Mitten Heritage Fraternal Society of Insurance can assist you in acquiring a a reliable landlord insurance policy tailored to your needs.

Why Trust Mitten Heritage with Your Insurance Needs?

Before securing a policy for your rental properties, it’s essential to have a few candid discussions with your agent. We recommend soliciting quotes from various insurers, allowing you to juxtapose the advantages and variances between them. Our skilled agents strive to simplify your search by employing their extensive knowledge, thus speeding up the otherwise arduous process.

Make Informed Decisions

Rely on our experienced agents for advice and insights from their time in the insurance industry. They comprehend the fine points of landlord policies and can guide you on coverage limits and other significant details. By asking the right questions, you’re better informed to pick a policy that will serve your short-, medium-, and long-term needs.

Get in Touch with Us Today!

If landlord insurance is on your agenda and you’re located in the Berville, MI region, contact Mitten Heritage Fraternal Society of Insurance today. Our primary goal is to help you feel secure and assured with a policy that matches your requirements. Managing rental properties shouldn’t be permeated with dread of unforeseen circumstances. With our dedicated agents and their commitment to reliable coverage, we’ve got your back.

Why do I need landlord insurance?

Being a landlord is a lot harder than it looks from the outside. Berville, MI landlords have a lot of responsibility, and you are the one who has to step up when anything goes wrong. Mitten Heritage Fraternal Society of Insurance can help you learn how landlord insurance can help. 

What Is Landlord Insurance?

Landlord insurance offers three basic kinds of protection:

  1. You have protection if your rental property is damaged.
  2. Landlord insurance helps cover expenses when a property becomes unlivable, such as after a fire or a tornado. You can’t collect rent on a property that is too damaged, but landlord insurance can help replace that lost income.
  3. If someone is hurt on the property, landlord insurance can provide protection in case the person files a lawsuit. This coverage includes assistance with the legal process, which can be the most stressful part of a case.

Landlord Insurance Does Not Protect Your Tenants’ Personal Belongings

There are a few ways to deal with this. Some landlords simply inform their tenants that they are not responsible for anything that happens to their personal belongings. That can lead to problems, including litigation if there is ever a question about who was responsible. 

You can avoid these kinds of problems by making it a mandatory condition of the lease that all tenants must carry renters insurance. Renters insurance is inexpensive, and your tenants won’t regret having it if they ever need to use it.

Consult With Us

Being a landlord in Berville, MI can be stressful, but you can reduce that stress by having the protection you need. If you are interested in learning about landlord insurance or if you would like to compare policies, please call Mitten Heritage Fraternal Society of Insurance today.

Importance of Obtaining Landlord Insurance

Landlord insurance protects you against perils that can cause damage or loss to your rental property. As renting a home, condo or apartment is a business, landlord insurance is actually a form of business insurance to protect your valuable investment. If your rental unit is hit by an unexpected disaster, landlord insurance will help cover the repair costs.

At Mitten Heritage Fraternal Society of Insurance, we can customize your Berville, MI landlord policy to provide the exact protection you need. 

Importance of Landlord Insurance

As the owner of a rental property, you’re responsible for its upkeep and care. If your unit suffers structural damage due to a storm, your tenant will expect it to be repaired so he or she can continue living there. By covering the cost of repairs, landlord insurance can save you thousands of dollars out of pocket. If your unit is totally destroyed in a disaster, landlord insurance can save you from financial ruin.

Coverage Options

Landlord policies offer various coverage options to protect your rental property. These include:

  • Dwelling insurance to cover structural damage to your home, condo, or apartment
  • Other structures coverage to pay for damages to detached structures on the property such as a fence, shed, or garage
  • Personal property coverage to protect equipment that services your rental unit, such as a lawnmower, leaf or snow blower, etc.
  • Liability protection to pay for someone’s injuries on your property if you’re found negligent in causing an accident.

You can also obtain additional coverage against vandalism, burglary, or floods. By working closely with our agent, you can determine the type and amount of coverage you need, taking into consideration the condition and value of your property, the risks of damage, what you stand to lose, and your budget.

Reach Out To Us

To learn more about landlord insurance policies, contact Mitten Heritage Fraternal Society of Insurance. We proudly serve the greater Berville, MI region.

The Top 5 Benefits of Landlord Insurance

As a landlord, it is important to protect your rental property investments from unforeseen circumstances that can cause damage or loss. One way to do that is by getting landlord insurance. At Mitten Heritage Fraternal Society of Insurance, we understand the importance of protecting your assets and rental business in the Berville, MI area.

Here are the top 5 benefits of landlord insurance for landlords in your area:

Benefit #1: Protection Against Property Damage and Losses due to Unforeseen Circumstances

Natural disasters, theft, vandalism, and other unforeseen circumstances can cause significant damage to your rental property. Landlord insurance can provide coverage for repairing or replacing the damaged property or assets, including appliances, furniture, and fixtures. This can ultimately save you thousands of dollars and protect your rental income.

Benefit #2: Liability Coverage for Accidents and Injuries on Your Rental Property

As a landlord, you are responsible for ensuring the safety of your tenants and visitors to your property. If someone suffers an injury or accident on your property, you could be held liable. Landlord insurance can provide liability coverage that can cover damages and medical expenses as well as legal fees.

Benefit #3: Income Loss Protection for Loss of Rental Income and Eviction Costs

If your rental property becomes uninhabitable due to property damage or a tenant leaves before the end of their lease, you could experience a loss of rental income. Landlord insurance can provide income loss protection that can help cover rental income and other expenses, such as eviction costs.

Benefit #4: Legal Assistance and Coverage for Renting-related Lawsuits

Landlord-tenant disputes are common, and as a landlord, you could face lawsuits or legal action from tenants. Landlord insurance can provide coverage for legal fees and also offer legal assistance should a dispute arise.

Benefit #5: Peace of Mind and Security for Your Rental Business and Assets

Ultimately, landlord insurance can provide peace of mind and security, knowing that your rental properties and assets are protected. Having insurance can reduce stress as well as financial risk in the event of unforeseen circumstances.

We Are Here To Help!

Investing in landlord insurance is a small price to pay for the peace of mind and protection it can provide. Contact us at Mitten Heritage Fraternal Society of Insurance to learn more about our landlord insurance policies and how we can help protect your rental business in the Berville, Mi area. 

How Does Landlord Insurance Differ from Home Insurance?

If you are considering renting out your property, there are lots of things to think about. One of those things is whether to have landlord insurance or homeowner’s insurance. Most people know about homeowner’s insurance, but some people have not heard about landlord insurance.  Mitten Heritage Fraternal Society of Insurance in Berville, MI is here to provide a guide.

What is the difference between the two and is landlord insurance right for you?

Dwelling coverage

Dwelling coverage covers the structure of the home. This is included with both homeowner’s insurance and landlord’s insurance.

Other structures

This relates to other structures of the home, such as fences, driveways, sheds, etc. Both homeowner’s insurance and landlord insurance cover other structures as part of their standard policies.

Personal property coverage

Personal property refers to a person’s belongings. Homeowner’s insurance covers personal property up to 50 percent of a home’s insured value. Landlord insurance rarely covers personal property but can cover furniture and appliances for an additional premium, depending on the policy that you choose.

Loss of use

Loss of use means that if the home cannot be lived in for whatever reason, it covers your living expenses until your house is in a livable condition again. Homeowner’s insurance covers loss of use, but landlord insurance does not.

Loss of rent

This is so that if a tenant moves out because of a covered loss, you don’t end up losing out on that income that you would otherwise have. Homeowner’s insurance does not cover the loss of rent, but landlord insurance does.

Personal liability and medical payment

Personal liability coverage covers expenses related to something that happens if it is your fault. This means that if something happens to someone on your property, insurance will cover the expenses related to the situation that occurred. Homeowner’s insurance will cover you and the people living with you both outside and inside the home. Landlord insurance only covers what happens on the property.

Get The Right Coverage Today

Contact us here at Mitten Heritage Fraternal Society of Insurance for your insurance needs in Berville, MI.

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