Loss-of-rent coverage is an essential for property owners, especially here in Hawaii. Here’s how it works.
Did you know that there is insurance you can get that will cover you in the loss of a tenant or in the loss of your rental home? It’s called loss-of-rent coverage, and here’s how it works.
Insurance companies will give you coverage for liability, loss of property in your home, and more. For just a few dollars every year, they will pick up the face value of your lease in the event that your home becomes uninhabitable due to fire, flood, or another catastrophe. Make sure you get no-cap coverage, because the company will probably only give you three months of it otherwise.
“Make sure to get no-cap coverage.”
This is an important step in protecting your investment and your lease income. If you have any questions about this type of coverage, call your insurance specialist today.
If you have any other questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.