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Greg Said:

In the state of Florida do you have to have house insurance on a rental property?

We Answered:

You sue him either way. If he has insurance, the insurance company may choose to settle without a lawsuit, just as he can choose to do. If he has insurance, the insurance pays the settlement or the judgement. If he doesn't have insurance, he pays the settlement or judgement.

Jorge Said:

What kind and how much is insurance for a rental property?

We Answered:

We pay like 150 a year, for up to 30000 replacement for theft.

I forget what else it includes, but it is all we'd need and its very cheap!!

Theresa Said:

Where can I find good homeowners insurance for rental property in Mobile, AL?

We Answered:

I had trouble finding insurance after Katrina. Only 2 companies were willing to write: State Farm and AIG Direct. Give those two a try and see what you can get. Unfortunately, we're not in a place that insurance companies really want to sell policies.

Jo Said:

What kind of insurance do I need to cover my rental property?

We Answered:

Land Lord insurance is different from Home Owners Insurance. Usually Land Lord Insurance only covers the replacement cost of the building, nothing for tenants belongings. Tenants need to purchase their own insurance. Because of it not covering as much as Home owners insurance, it does not cost as much.

Liability Insurance is not covered in Land Lord Insurance. That is a separate policy or in some cases will be covered by your home owners policy. This is a personal judgment call. I personally think it is cheaper to buy a Liability policy than risk loosing everything I own in a civil suit.

Dora Said:

Is there a insurance that rental property owners can buy for appliances and HVAC units and other losses?

We Answered:

Home warranties are available, but they are expensive and not really worth it.

If you can't afford to replace an HVAC you haven't set aside enough cash reserves and you don't have much business being a landlord.

Boost your cash reserves and become more self-reliant.

good luck!