PROPERTY DAMAGE COVERAGE
Property damage coverage helps pay for damage to rental property, including buildings and other structures, caused by events such as theft, vandalism, etc.
WHY PAY MORE?
GET AFFORDABLE LANDLORD INSURANCE RATES
Property
Liability
Loss of Rent
Legal Expenses
Other
HANDPICKED CARRIERS –
LOWER COSTS, HIGHER SATISFACTION
WHY IS CINCO THE BEST CHOICE FOR LANDLORD INSURANCE?
Competitive Rates
Industry Expertise
With or Without a License
With Good Credit, Bad Credit, or No Credit
Online/
Phone/
In-Person
Services
Multiple Convenient Locations Near You
WHAT COVERAGES CAN I GET FOR MY LANDLORD INSURANCE?
LIABILITY COVERAGE
Liability coverage protects against claims and lawsuits for injuries or damage to others on your property, covering bodily injury and property damage.
LOSS OF RENT COVERAGE
Loss of rent compensates for lost rental income if your property is uninhabitable due to a covered event, such as fire or flood, thereby maintaining cash flow.
BUILDING INSURANCE
Covers the cost of repairs or rebuilding if events like fire, vandalism, or natural disasters damage the rental property.
TENANT DEFAULT COVERAGE
Protects landlords against lost rental income if a tenant fails to pay rent or breaches the lease agreement.
LEGAL EXPENSES COVERAGE
It helps cover legal fees and expenses related to disputes or lawsuits involving your rental property, such as eviction proceedings or liability claims.
CONTENTS INSURANCE
Landlord contents insurance protects personal property, such as furniture or appliances, in the rental unit against potential damage or loss.
ACCIDENTAL DAMAGE COVERAGE
Covers damage to the property caused by tenants' accidental actions, including broken windows or holes in the walls.
FLOOD INSURANCE
Provides coverage for damages caused by flooding, which is typically not covered under standard landlord insurance policies.
STORM AND FIRE DAMAGE COVERAGE
Covers the repair or replacement of property damaged by storms, hail, or fire, including structural damage and contents.
HOW IT WORKS
EXPLORE
Visit our website to explore options and secure your rental property investments with our comprehensive insurance solutions.
CONNECT
Contact our property insurance team for more info on our specialized plans and to clarify any insurance-related questions.
COMPARE
Take your time - obtain your first free quote from CINCO and compare it against various others to find the most suitable plan for your property.
WHAT IS LANDLORD INSURANCE?
If you rent out your property, it may be constantly exposed to risks such as windstorms, appliance breakdowns, fires, drainage issues, and other costly hazards. Insurance for landlords provides financial protection in the event your property is damaged due to an insured incident or potential liabilities, ensuring you have access to financial assistance to cover any unforeseen damages, repairs, or replacement expenses.
Standard homeowners' insurance provides limited protection to your rental property, necessitating landlord insurance. There are three options you can choose from:
- DP-1: A named perils policy offering basic and low-cost protection and a short list of covered items.
- DP-2: Another named perils policy with multiple additional inclusions.
- DP-3: Unlike a named perils policy, this comprehensive package offers protection against everything except specific select exclusions.
FACTORS THAT IMPACT LANDLORD INSURANCE RATES
Landlord insurance rates are rarely the same for different policyholders because insurers assess each property's unique risks and situations. For example, a landlord renting a well-kept property in a low-risk area may enjoy lower premiums, whereas someone who owns a property in a high-risk region could face higher costs. These variations stem from the different risk levels tied to each property. Here are some other factors that insurers consider when calculating your landlord insurance premiums:
Property Location
Property Age
Property Size
Building Materials
Property Condition
Coverage Amount
Deductible Amount
Claims History
Tenant Type
Rental Income
Security Features
Local Crime Rate
Risk of Natural Disasters
Type of Tenancy Agreement
Proximity to Fire and Police Stations
WHO IS REQUIRED TO HAVE LANDLORD INSURANCE?
As a landlord, having insurance is crucial to protect your rental property and mitigate its risks. This coverage protects your investment from damages caused by incidents like fire, vandalism, and natural disasters, and it also provides liability protection. Landlord insurance helps ensure that unforeseen costs, such as repairs or lost rental income, won't disrupt your financial stability. While every landlord should have insurance, here are some individuals who should get it right away:
Property owners renting out their homes to tenants for residential purposes.
Real estate investors who own and lease properties for income generation.
Owners of multi-family Units renting out apartments or units.
Individuals who own property but do not live in it and rent it out instead.
Landlords in high-risk areas prone to natural disasters like floods or hurricanes.
Landlords with multiple rental properties to protect their investments.
Individuals renting to short-term tenants such as those using Airbnb or vacation rentals.
Landlords with commercial rental properties to protect business-related rental spaces.
First-time landlords who need coverage for their newly rented property.
Landlords offering furnished rentals to ensure coverage for both the property and contents.
WHY IS LANDLORD INSURANCE NECESSARY?
HOW DOES LANDLORD INSURANCE WORK?
Landlord insurance is specialized insurance designed to protect property owners who rent out their spaces, such as apartments, condos, homes, and other residential properties. It covers risks not typically included in a homeowner's insurance policy, such as loss of rental income if the property becomes uninhabitable due to an insured event. A reliable landlord insurance policy usually encompasses three main components.
First, property coverage protects the physical building; second, liability coverage covers potential lawsuits; and lastly, loss of rental income coverage helps compensate for lost revenue. This insurance helps safeguard landlords' financial investments and provides peace of mind. Landlord insurance is not one-size-fits-all; it can be customized to meet the varying coverage requirements of each individual.
HOW MUCH LANDLORD INSURANCE DO I NEED?
Deciding on the right amount of landlord insurance is crucial to protect your investment in rental properties. The best way to ensure you are fully covered in the event of a natural disaster is by purchasing property coverage that matches the full replacement cost of the building. This requires accurately evaluating your property's worth, taking into account factors such as construction costs and materials.
Moreover, liability coverage is necessary to shield you from tenant injuries or property damage lawsuits. Experts typically suggest liability limits of at least $1 million, particularly if you own several properties or have considerable assets at stake. Consider purchasing additional coverages that suit your unique needs and preferences.
WHAT DISCOUNTS CAN I GET ON LANDLORD INSURANCE?
If your landlord insurance premiums are higher than expected, consider exploring the various discounts and offers typically provided by insurers. Many companies have discounts specifically designed for property owners. Speaking with your insurer is beneficial for identifying what might work best for you. Whether it’s a discount for insuring multiple properties or a reward for not making claims, taking advantage of these offers can greatly reduce your insurance expenses. Here are some options:
Safe Building Discount
Claims Free Discount
Security System Discount
Paid-in-Full Discount
Bundle Discount
New Property Discount
No Tenant Coverage Discount
Loyalty Discount
Early Renewal Discount
Multi Policy Discount
HOW MUCH DOES LANDLORD INSURANCE COST?
The national average cost for landlord insurance coverage is approximately $1,895 per year, making it around 25% more expensive than a typical homeowners' insurance policy. However, it is essential to recognize that the actual premiums of individuals may not always align with the average estimates. This is primarily because every insurer calculates your premiums after analyzing certain factors.
For instance, insuring a larger home with significant value is likely to be more expensive, as there is more at stake. If you find your landlord insurance rates too costly, consider hiring an insurance broker to help you review potential options. They can also help you find the right discounts and incentives to lower your costs.
WHAT ARE THE ESSENTIAL REQUIREMENTS FOR AN ACCURATE LANDLORD INSURANCE QUOTE?
Landlord insurance providers require specific details, documents, and certifications to provide an accurate quote tailored to your property. This information enables insurers to assess risks and determine suitable coverage. If your submitted information is incomplete or incorrect, it can cause problems, especially when processing claims. To prevent any issues, please ensure that you provide valid and complete information. Here are some common requirements that insurers might request to give you a precise quote:
GET A FREE LANDLORD INSURANCE QUOTE
Are you looking for peace of mind as a landlord? Get a free property insurance quote from CINCO today to protect your precious property. Our comprehensive landlord rental insurance solutions are tailored to meet the specific needs of landlords. Our agents will stay with you throughout the entire process.
Answer a few questions about your owned space and primary insured individual, and submit. One of our agents will contact you within a few hours with your tailored quotes. We will find you the best option that is also affordable. So, don’t wait too long—apply right away!
Property
Liability
Loss of Rent
Legal Expenses
Other
FREQUENTLY ASKED QUESTIONS REGARDING LANDLORD INSURANCE
Yes, landlord insurance tends to be more expensive than standard homeowners insurance. This is due to the higher risks associated with rental properties, such as potential damage from tenants, liability claims from tenants or visitors, and loss of rental income if the property becomes uninhabitable.
Liability coverage is a key component of landlord insurance, designed to protect against lawsuits that may arise from injuries or property damage occurring on their rental property. For instance, if a tenant or visitor is injured due to a hazard on the property, your liability coverage helps cover the medical costs, legal fees, and potential settlements.
Yes, landlord insurance is generally tax-deductible when the property is used for rental purposes. The premiums you pay for landlord insurance can usually be claimed as a business expense, which includes coverage for property damage, liability, and loss of rental income.
While landlord insurance is not legally required in most areas, it is strongly advised. Mortgage lenders often mandate landlord insurance as a condition for financing rental properties. Even if it’s not a legal requirement, having this coverage can protect you from financial losses due to property damage, liability claims, or lost rental income.
The cost of landlord insurance can rise for several reasons, including inflation, increased construction and repair costs, and a higher frequency of natural disasters such as hurricanes or floods. If there’s a history of more claims in your area or if the risk profile of your rental property changes, this can also lead to higher premiums.
Landlord insurance typically cannot be canceled just because an eviction process is underway. It's crucial to maintain the policy during this period, as the property remains at risk for issues such as damage caused by tenants, liability claims, or unexpected disasters.
CRUCIAL LANDLORD STATISTICS AND INSIGHTS YOU SHOULDN'T MISS
Being a landlord presents a mix of opportunities and challenges, making it essential to have a thorough understanding of the rental market. Understanding financial trends is crucial for landlords to make informed decisions and enhance their investments. The following list highlights essential statistics and key insights that every landlord should be aware of. Whether you manage a single property or a collection of rentals, these insights offer an overview of the current state of the landlord industry:
01
Based on data collected in recent years, around 1.6 million American tax filers disclosed rental income when they filed their taxes. (Internal Revenue Services)
02
Between 2019/20 and 2020/21, the percentage of 25 to 34-year-olds who are renting decreased from 42% to 37%. (Leaders.co)
03
As rents continue to rise, the expenses associated with traditional property management also go up, usually falling between 8% and 10% of the monthly rent. (Hemlane)
04
Most people (73%) of private tenants are employed, but one may be surprised to learn that only 58% have full-time jobs, while 15% work part-time. (Leaders.co)
05
Private individuals accounted for 71.6% of rental properties in 2018, with 99.0% of landlord-owned properties comprising 1-4 units. (iProperty)
06
A survey revealed that irrespective of their experience in the industry, 69.4% of landlords indicated they do not intend to sell their properties in the coming year. (Hemlane)
07
Projections suggest that from 2021 to 2024, an additional 82,367 Americans entered the ranks of landlords. (iProperty)
08
In 2024, median rent went down across all size categories in notably smaller units: Studio: $1,436, down $17 (-1.2%); 1-bedroom: $1,600, down $15 (-0.9%); 2-bedroom: $1,908, down $14 (-0.7%). (Realtor.com)
09
If these trends continue for a full year, the rental housing stock is projected to grow by 1.1%, reaching over 49 million units by fall 2025. (Realtor.com)
10
The expected annual gross rental yield for a three-bedroom property is set to rise to 7.55% in 2024, compared to 7.39% in 2023. (ATTOM)
Note: These statistics were accurate at the time of publication and may change over time. Please refer to official sources for the most current data.
AMERICA’S FAST GROWING INSURANCE
With over 7,000+ 5 star Google reviews and counting!
Vanessa Echeverry
I love Karina’s customer service. She is amazing—super friendly and super quick at getting you your insurance and on your way! She makes the entire process easy and is very helpful. Thank you, Karina!
Google Review
Walter P
I referred a few people here because of the exceptional job my rep provided. I call her my rep because she’s the only one I’ll go to from now on, and she’s the one I’ll refer my family to. I appreciate Paula for going above and beyond with me and the referrals I provided. All of this is due to the focus she placed on my situation. I will continue referring people to Paula for insurance solutions. Thank you again!
Google Review
Joyce Evans
Thank you, Javier, for the professional customer service. I am a senior citizen and don’t always get things right the first time. Thank you for your patience. I’m glad to have CINCO Insurance close to me in Garland on Northwest Highway.
Google Review
Doris Edmond
I spoke with Veronica, an agent with CINCO. She was the BEST! I was so stressed because I had been looking for coverage. Veronica took away all my stress. She worked with me tirelessly until she found auto coverage I could afford. I highly recommend her. She's professional, kind, courteous, and—most of all—patient. The definition of good customer service is VERONICA—my agent for life!
Google Review
Alva Ayuso
Valeria was very patient and courteous with us, answered all our questions, and helped us with all the paperwork! We will definitely recommend CINCO Auto Insurance to all our friends. Very satisfied!
Google Review
Rosalinda Alvarez
THANK YOU SO MUCH, AIME!! She offers outstanding customer service, going above and beyond to ensure a smooth and satisfying experience. Her professionalism, responsiveness, and attention to detail make every interaction pleasant and efficient. I highly recommend Aime 100% for her dedication to excellence and commitment to customer satisfaction! My family and I have found a great insurance company—all thanks to Aime.
Google Review
Alexus Monique
I’m currently looking for car insurance, and I’m so glad I decided to try this place out. The insurance agent Paula was very knowledgeable and sweet. She answered all my questions and made sure I didn’t leave with any doubts! I’m highly satisfied with my experience here and will be recommending this place. 😊
Google Review
Zouquayla Butler
I recently joined CINCO, and getting started was easy breezy. Javier is a 10/10—highly recommend! Great customer service, like we were old friends catching up while taking care of business. Thanks again, Javier. Awesome!
Google Review
Jose Santos
The service is excellent, and they help you with everything. You just have to be available, and they’ll do the work for you. I loved the work my agent Yolanda did. I recommend her—just ask for her!
Google Review
Rebecca Esquivel
Javier was awesome to talk to. He explained everything in detail and even repeated himself multiple times. Very, very patient with me—quick and ready to go! I was struggling to get a good quote, but he got me in and out. Thank you, Javier. 10/10 recommend!
Google Review
CONTACT US
Founded in 1981, CINCO Auto Insurance is a licensed agency proudly serving Texas and Georgia residents with reliable insurance coverage.
Contact Us
Find Car Insurance By Make
Toyota
Ford
Chevrolet
Honda
Nissan
Jeep
Hyundai
Kia
Ram
Subaru
GMC
Volkswagen
Copyright © 2026 CINCO Auto Insurance All Rights Reserved.