What does loss of rents coverage cover and for how long?
Loss of rents coverage will insure lost income from damage caused by certain hazards, such as storms and fires, up to the policy limit. Loss of rent, normally up to 12 months, will be reimbursed. Loss of rent coverage excludes some damage to property. For example, most policies exclude loss of rent coverage for flood or earthquake damage. Loss of rent coverage will not respond to damage due to negligence from the property owner. For example, if a home becomes uninhabitable due to mold resulting from a leak the owner failed to repair, then the policy would most likely not cover the related loss of income. Our real estate investor insurance experts are ready to discuss this coverage in detail and help make sure your policy protects your future income.