Landlord Insurance Massachusetts

Choice Insurance Agency

Landlord Insurance in Massachusetts

Offering customized insurance solutions in Massachusetts and beyond.

What is landlord insurance?

Renting residential properties to tenants comes with certain unavoidable risks. Tenants can be injured, buildings can burn down, and any myriad of other things can happen. Landlord insurance won’t protect landlords in Massachusetts from every risk they face, but it can help protect against many covered ones.

Landlord insurance policies provide specialized protections for those who lease out residential properties. Policies may protect landlords, their rental properties, and their income.

Which landlords in Massachusetts need to get landlord liability insurance?

Landlord liability insurance is something that almost all landlords in Massachusetts should have. An accident can occur on any property, and just one accident could lead to an expensive lawsuit. Liability insurance may help protect against this risk.

Property coverages are broadly advised, too. They’re frequently even required when rental properties are financed, as lenders want the financed property covered against major damage.

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Landlord Insurance Massachusetts

Words from our Clients

Gained a customer for life.

Moved all my personal lines of insurance over to Choice. They found me a set of policies that saved me over $1000/year. Then, Julie took care of my commercial line, jumped through so many hoops and got me a policy for my business at an amazing rate.

Great people, great insurance, great advice, great price.

Kristoffer S., Google Review

Choice insurance has been providing insurance coverage to our commercial real estate business for over 7 years and the service has been tremendous. Peter has always responded quickly and with incredibly aggressive pricing; and with a perspective to assure that we are fully covered for all potential issues without unnecessary coverage and fees. There is such a comfort when working with Peter and his company that our best interest is their top priority.

Mike R., Google Review

I have been a happy customer of Choice Insurance for 12+ years. Peter and the team have been fantastic — always professional and knowledgeable about supporting my business insurance needs as well as our personal, home, car, and condo insurance needs. Peter has helped us with insurance questions related to buying and selling homes, a flood insurance claim, a tree that almost fell on our house and destroyed our fence, and a car accident. Recently, Peter noticed that our condo insurance (inherited from the prior owner) was severely inadequate. He helped us switch to a much better policy within less than a day. And, thank goodness he did. A couple weeks later, I smelled gas outside our home. It was a gas leak that National Grid fixed right away. But, I slept more soundly that night knowing that if the worst had happened, we would be fully covered thanks to Peter! I can’t recommend Choice enough!

Christine A., Google Review
This is our third policy with Peter, he’s awesome!! We started with a policy for a commercial space and added a home insurance and auto policy because of the quality of service that we received.
We highly recommend Choice Insurance Agency for competitive pricing and transparency. Want a great policy and customer service experience look no further.
M. Maxwell, Google Review

Peter and his team are thorough and have a strong sense of urgency for all matters pertaining to our account. Each time we reach out for assistance, our expectations are exceeded. I would recommend his team to anyone.

Chris C., Google Review

I switched to Choice 10 years ago and with 2 teenage drivers we interact frequently. Every time they have made the process quick and effortless. My family and I could not be more pleased.

Matthew P., Google Review
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What kinds of residential properties can landlord policies insure?

Landlord policies are primarily intended for smaller residential properties, especially those that have fewer than five units. This may be a good option if insuring a single-family house, condominium, townhouse, duplex, triplex, or quadplex.

Once landlords get into larger multifamily housing properties, a different insurance policy with additional protections is usually preferable. A different policy is usually also needed if insuring a mixed-use building, which has residential and other spaces.

What protections are included in landlord policies?

These policies typically come with both property coverage and landlord liability insurance coverage. Landlords may also choose to include coverages that help safeguard their income stream. 

The following are some examples of the various coverages that these policies might make available, either as standard or optional features:

  • Property Damage Insurance: Normally covers damage to the rental property itself, and often also HVAC systems, appliances, yard equipment, furniture, etc.
  • General Landlord Liability Insurance: Normally covers lawsuits filed by tenants, or others, who are injured while at a rental property.
  • Commercial Umbrella Insurance: Normally covers costly liability lawsuits with an extra layer of landlord liability protection.
  • Rent Guarantee Insurance: Normally covers income loss that’s the result of tenants failing to pay their due rent.
  • Loss of Rental Income Insurance: Normally covers income loss that’s the result of a disaster rendering a property temporarily unusable.
  • Legal Assistance Insurance: Normally helps with legal fees that don’t stem from liability lawsuits, such as fees incurred when pursuing evictions or judgments.
Landlord Insurance Massachusetts

Should landlords get rent guarantee insurance?

Rent guarantee insurance certainly can be helpful if rents go unpaid. Whether landlords should include this in their policy depends on their situation, however.

Rent guarantee coverage is sometimes required if the rental property is financed. Lenders want to be sure that their loans can be repaid, and this coverage might help ensure landlords can pay even if tenants don’t.

The coverage also may make sense if a landlord needs the rental income to cover their own living expenses. If a couple of months of unpaid rent would cause significant short-term hardship for a landlord or their family, then this coverage is probably advisable.

Landlords who use their rental properties only as long-term investments may not need this coverage. A rent guarantee normally isn’t’ as crucial if the rent isn’t needed to make a loan payment, and also isn’t immediately needed to cover living expenses.

An insurance agent who understands landlords’ insurance needs well can help think through the decision process, and ultimately determine whether this coverage makes sense for a particular property.

Does home insurance cover liability lawsuits tenants might file?

Standard home insurance policies usually don’t cover liability lawsuits filed by tenants against a landlord. Although they might cover liability lawsuits in other situations, those related to a rental property are highly unlikely to be covered by home insurance.

Instead, landlord liability insurance is normally needed to protect against lawsuits that tenants could file.

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Where can landlords find landlord insurance for rentals in Massachusetts?

If you need landlord insurance for a rental that’s in Massachusetts, contact the independent insurance agents at Choice Insurance. We’ll make sure you find a polciy that keeps your rentals well covered.

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