Maine Landlord Insurance

Maine landlord insurance has many options available for landlords all over Maine. You do have your basic protection, but there are a variety of add-ons that you may want to consider in order to make sure your coverage is adequate for your unique situation. No landlord is the same, which means all needs are different.

So look at the property you are renting out. That way you identify what you need from your Maine landlord insurance company to make it work for you. Because there are so many options available, there is no reason you can't tailor your Maine landlord house insurance to fit your needs.


There are times that the add-ons can vary. You may find that your Maine landlord insurance company will add even more add-ons so that you can be properly insured. Something new always tends to come up. Just think of how the industry has evolved over the years and created add-ons to fit the needs of their customers again and again.

So the first add-on to your Maine landlord insurance is contents insurance. It can be default or it can be an add-on depending upon your policy. The reason it can be considered an add-on is because not all landlords in Maine furnish the properties that they rent out. If you are a landlord who provides furniture, appliances, and you have permanent fixtures within the structure that you want to insure, then this form of coverage may work for you.

Because tenants have accidents due to being human, you may want to add on accidental damage to your Maine landlord insurance. Perhaps a tenant decides to buy a new mattress and punches a hole through a wall while moving their old one out or their new one in. Of course, you can keep their security deposit to cover the damages, but there are most likely other issues you are going to have to take care of with the damage deposit.

If there are perils that are not covered within your Maine landlord insurance policy, you are most likely going to want to make sure you are covered for all perils that affect you. For example, flooding may not be covered under your insurance policy. If it isn't, add it. If cost is a concern, use insurance quotes to guide you so that you can carefully customize your coverage to meet all of your needs. Make sure you evaluate all of the property insurance add-ons that are available to you.

Insuring Multiple Properties

When you are insuring multiple policies under your Maine landlord insurance, the needs of each property is going to be different. This means you will need to evaluate each property. The items that you will evaluate is the worth, any other structures that are on the property, what perils exist in the area, and the contents you have within the property. That way you know you are making sure you get adequate Maine landlord coverage.

You will notice that your premiums will be different for each property. You'll also notice that you will want to receive multiple quotes to cover each property. You can't add the value of the properties and then have them on one policy. You can have one account with the insurer, but you have to have separate policies on each property.

If one rental home needs flood coverage and another doesn't, then you can make sure that the appropriate coverage is applied to the property that needs the flood protection. You don't want to add the same add-ons to every property because this could result in you paying more than what you need to. You don't want to pay more than what you should for the fact that that is paying for coverage you don't need.

And when insuring multiple properties, your properties may be different as well. For example, you may rent out apartments in a Maine apartment building, but you may also have houses, mobile homes, and other property types. Again, this shows that the needs are going to have to be different, so your Maine landlord insurance can reflect those differences. You don't want to leave any gaps in your coverage that is going to leave you vulnerable in any way. The insurer isn't going to inform you of gaps because only you know the specifics about a property.

So make sure that you are adequately insured by your Maine landlord insurance company on all of your properties. Be mindful of the add-ons that are going to help you make sure your rental business is adequately protected. You don't have to add them if you don't need them, but they are always there for when you need them. That way you don't leave yourself vulnerable anywhere in your landlord insurance. The Maine landlord can never be too careful.

Landlord Insurance Properties