What kind of rental property do you own? You might have several multi-unit complexes. Maybe you restored a vintage fourplex in a historic district — or rent out a single-family house you inherited from an aunt.
Whatever your portfolio looks like, Pace Insurance and Financial Services understands that residential real estate investments can come with unique challenges — to both your properties and your financial stability. Landlords can select personalized coverage and get the insurance they want.
A Pace Insurance and Financial Services agent can help as you analyze your property and the coverage you want. Here are some situations you might encounter:
A storm damages your property
Risk:
Your tenant calls to say there’s vinyl siding strewn across the front yard — you’re not surprised since a thunder storm kept you awake most of the night.
Coverage:
Optional comprehensive property coverage can help with damage if a storm or other weather event is covered by your policy.
A pipe bursts
Risk:
A pipe in an upstairs bathroom suddenly bursts, saturating the ceiling below. You arrive to help clean up the mess, but the damage is already done.
Coverage:
Named-peril coverage can help with coverage for specific perils that you choose, including water from bursting pipes.
Your tenant is injured
Risk:
Your tenant trips over a garden hose you’re using to water the flowerbeds. He lands palms-down on the ground — and breaks his wrist.
Coverage:
Optional liability coverage can help with hospital bills and lost wages if you’re legally responsible for his injury.
Selecting tenants
Pace Insurance and Financial Services now offers a quick and reliable way to screen potential tenants through SmartMove™ — it’s a service that can provide an in-depth tenant suitability report within minutes.
There are no setup or accounts fees, and you don’t have to collect personal information from applicants. All they need from you is an email address — they’ll contact the applicant and take care of the rest.
