Syracuse, NY

 

100 S Salina St.

Suite 370

Syracuse, NY 13202

 

Phone: 315-234-7500

Fax: 315-234-7508

Toll Free: 888-400-8087

Rochester, NY - DHH Office

 

95 Allens Creek Rd.

Building 2, Suite 5

Rochester, NY 14618

 

VP: 585-286-3442

V: 866-371-8830

 

© 2019 by CH Insurance. All rights reserved.

Rome, NY

200 E. Garden St.

Rome, NY 13440

Phone: 315-336-0880

Fax: 315-336-5732

READ THIS if you're a Landlord


Landlord policies come in all shapes and sizes; before you buy, consider what you need to specifically address and protect against in your rental property.


Key Measures

A good, comprehensive landlord insurance policy will have three core protections:

Property damage: In the event of some natural disaster or tenants who do damage to your property. If CH Insurance was insuring you we'd offer you a policy that offers replacement cost or replacement value, instead of the actual value (especially if fixtures and furnishings are old) or a predetermined lump sum of cash.

"There are different measures that need to be taken depending on the scale of what you're renting out," says Jim Coleman, Senior Insurance & Business Advisor at CH. "You need the right people in your corner to ensure the policy fits your footprint." Here the primary risks landlords face for potential insurance claims is discussed. If you're a landlord of a large apartment complex, the primary concern is protection of the property from catastrophic events :


  • Fire, storms, and other catastrophic damage to the property

  • Liability for tenant, employee and visitor injuries

  • Theft or vandalism

  • Loss of rental income

  • Invading the right to privacy

  • Advertising liability

  • Discrimination lawsuits filed by disgruntled tenants or employees

  • Allegations of fraud, misrepresentation, and other intentional acts by employees

Lost rental income/rental default insurance:


Should something cause your property to be totally uninhabitable this feature provides temporary rental reimbursement to cover the rent money you’d otherwise receive if tenants could be occupying the property.

Liability protection: This is coverage for the medical or legal costs that might ensue if the tenant or a visitor suffers injury due to a property maintenance issue (such as icy walkways, architectural collapse or injury on stairs determined faulty, etc.)


"We deal with many Apartment building owners and landlords here at CH so we understand the complexities of the various scenarios that exist and what the best, customized policy and protection should be for each unique client we work with," says John Sereno, Vice President of Sales at CH Insurance. Being a landlord can be very lucrative. Play it smart to protect your assets and ensure the future prosperity of your business. Talk with a CH Insurance team member now to get the premium and peace of mind you deserve. 315-234-7500.