Landlord Insurance Made Simple

At the end of the day, the benefit of landlord insurance boils down to one thing – fewer out-of-pocket costs for landlords. But that’s just the surface!

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At The Way Agency, we believe insurance isn’t one-size-fits-all. That’s why, as an independent agency, we shop multiple carriers on your behalf.

Let’s face it: protecting a rental property isn’t just about checking a box, it’s about making sure you have the right coverage for the risks you don’t see coming.

Here’s why landlords need to “learn the why” behind landlord insurance—and why cutting corners can cost you.

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Liability Protection

Imagine this: a tenant’s guest slips on an icy sidewalk and breaks their wrist. Without landlord liability protection, you could be the one paying thousands in medical bills

or legal fees. Liability coverage shields you from those costs, covering everything from legal defense to medical expenses. Lawsuits happen—even to good landlords

with responsible tenants. Without this protection, your rental income could disappear in court fees overnight.

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Rental Income Protection

What if a fire makes your duplex uninhabitable for six months? Or, a tornado tears through your property? During that downtime, your mortgage doesn’t pause, and your

tenants aren’t paying rent.

Rental income protection makes sure the checks keep coming in, so you’re not left scrambling. Not every policy includes this, so make sure you know what coverages are

included in your policy.

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Tenant Damage Coverage

Here’s the reality: not every tenant treats your property like you would. Some damages are accidental such as a broken appliance or water damage from an overflowing tub.

Others can be malicious, unfortunately. Holes in walls, vandalism, or worse "can" occur and the right landlord policy can cover both, saving you from footing expensive

repair bills. Again, coverage varies widely between carriers. That’s where we step in, comparing options so you don’t pay for gaps you didn’t know existed.

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A Real Example: The Landlord Who Thought Homeowners Insurance Was Enough

One of the biggest mistakes we see? Landlords assuming their regular homeowners policy will cover a rental. It won’t.

Let's say you are a landlord and you are renting out your old home after moving into a new one. You didn't change your homeowners policy.

Then your old home, now with tenants, have a kitchen fire that caused major smoke damage. Insurance will likely deny the claim because the property is no longer

owner-occupied. That leaves you with repair costs and months of lost rental income, all out of pocket.

That’s why understanding the difference between homeowners and landlord insurance is critical!

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Why Work with The Way Agency?

Because insurance isn’t one-size-fits-all, and landlord policies are a prime example. As an independent agency, we don’t just sell you a policy—we shop multiple carriers, ask the right questions, and explain the why behind every recommendation.

• Some carriers may excel at liability protection but fall short on rental income coverage.
• Others may price aggressively but exclude malicious tenant damage.
• Only by comparing can we find the right policy for your unique situation.

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At The Way Agency, we believe landlords shouldn’t just buy insurance—they should understand it. Because when something goes wrong (and it eventually will), you don’t

want to learn the hard way that your coverage wasn’t enough.

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Would you like for us to review your policies?  We’d love to show you insurance gets done!  Let's Chat!  hello@thewayagency.com

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