Houston Landlord Insurance is a type of home insurance that is suitable for renting a home to someone else. Most insurance companies do not allow customers to purchase a regular homeowner policy for rental properties. This is because there are different risks and needs for leasing properties.
In Texas, the state has standardized coverage of packaging. The landlord usually receives a TDP 1, TDP 2 or TDP 3 package. [TDP is a Texas residential policy] usually adds an extended coverage [EC] option, so the strategy can be TDP 1 EC, TDP 2 EC or TDP 3 EC.
The TDP 1 package will include accommodation and outbuildings, fire, lightning, storms, hurricanes, hail, explosions, civil disturbances or rockets, aircraft or vehicle damage, and smoke. In some cases, storms, hurricanes and hail may be specifically excluded. This is common in coastal areas, and if this is the case, you can get a separate storm policy.
The TDP 2 package will increase cracking or cracking, causing water damage, falling trees, freezing of pipes, collapse of buildings, snow and broken glass.
The TDP 3 package will add to the building, additional living expenses, replacement costs and special forms of tree and shrub coverage.
Uncovered things usually include theft, flooding and mold damage. Some policies can choose additional extra fees. Tenant personal property is usually not insured.
Most landlords will require tenants to purchase a renter package for the tenant property and ask the tenant to take personal responsibility. This is a very good idea and it is recommended to impose high limits on the scope of responsibility. Please consult your insurance agent for details.
As a disclaimer, this information may not be current or completely accurate. You can find the latest information on the state insurance website at http://www.tdi.state.tx.us. All policies are restricted and excluded. The details of the plan are constantly changing. It is important to review all the details with an experienced agent before choosing a policy.
Texas residents can visit my Houston Landlord Insurance website for more information or call 281-537-2700.
Orignal From: Houston Landlords Family Insurance Information
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