Property insurance provides protection against disasters and other risks that may affect your investment property. Typically these risks include fire, theft, and some weather damage; but policies can be tailored to cover almost anything. Without property insurance you are exposing yourself to undue risk that your investment could suffer diminished returns or be completely wiped out. Price, coverage, and terms of property insurance can vary quite significantly and not all policies are created equal.
A standard policy will typically cover the following:
It will typically not cover:
There are 2 main levels of coverage:
As an American Properties member we can refer you to legitimate and creditworthy providers with comprehensive and fairly priced policies. They will be happy to work with you to tailor the coverage you require.