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Being a landlord can also be time-consuming, and you face potential liabilities that could cost you. From property damage to accidents involving tenants or visitors, unforeseen events can strain your finances—if you’re unprepared. For example, if a tenant trips on a walkway leading to your property and is injured, you could face legal costs and be responsible for paying their medical expenses.
Whether you’re renting out a single-family home or a multi-unit property in Canada, here’s what you should know about landlord insurance.
Landlord insurance vs. homeowner insurance: What’s the difference?
“Can I use home insurance to cover my rental property?” you might wonder. Home owner insurance and landlord insurance are both types of property insurance, but they have different types of coverage and address different risks…
