With home prices and mortgage rates still affordable and the market rebounding, investors are beginning to purchase real estate again. 

Robin Jones, a realtor, asks, "Are you ready to become a landlord?" She recommends an owner carries landlord insurance.

"There are several things you want to make sure are covered by your landlord policy.  Most importantly, your policy will cover you against damage to your property.' says Jones in her blog. But your policy should also cover fire damage and loss of income, legal disputes with tenants and legal expenses should you have to go to court.

Your tenant should also have renters insurance to cover their personal property but landlord insurance will cover you if you have not repaired something, say the roof, which then causes damage to their property.

There are many different companies who provide landlord insurance.  Call your insurance agent or search online for companies.

See Robin's blog at realtor.com

photo credit: photosteve101

Posted in Buyer Resources, Real Estate Market Conditions, Headlines

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