Did you know that Georgia is the second-fastest-growing state in the country? Because of its growing population and thriving economy, it’s become an extremely viable location for property investors. In fact, Georgia is well known as a very landlord-friendly state.
However, it’s important to note, the state has its fair share of natural disasters. For instance, tornadoes, severe storms, floods, tropical storms, and wildfires are very prominent.
Therefore, if you’re a property investor in Georgia, you need landlord insurance. This will help protect your investment against the numerous risks that exist. In this article, we’ll take an in-depth look at landlord insurance and explain why you need it in Georgia. Let’s begin.
Landlord insurance is absolutely crucial for property investors, regardless of the state you’re in. However, due to the weather risks that pose a threat to your property in Georgia, it’s a must. By purchasing landlord insurance, you can create a custom policy that meets your insurance needs.
Worried about a tree falling on your property? We’ve got you covered. Are you afraid a tenant may slip and fall on your front steps? Worry no more. With the help of landlord insurance, you can rest assured knowing your property is taken care of.
In a standard landlord insurance policy, the structure of the property and your personal belongings inside will be covered. Even if someone were to get injured, your liability coverage would kick in to cover any medical bills or legal fees.
Generally, when you rent your property out, you expect them to take care of it as if it were their own. However, the sad reality is that this isn’t always the case. Therefore, this is where landlord insurance comes into play.
This policy acts as a protective buffer when unwanted incidents occur due to your tenant’s negligence. For example, a cooking fire could break out and destroy your kitchen. Therefore, choosing the best landlord insurance policy can be the difference between your insurer covering the damages and paying for them on your own.
Note, you may need additional coverages than what’s listed above. Talk with an insurance agent who can assess the risks and help you figure out what type of protection you need.