Many individuals own investment property in multiple states. In order to protect their holdings and indemnify themselves against liability, these landowners must obtain insurance from the state in which the property is held. This can be rather complicated for the landlord who owns property in a large state like Texas or California. The varied geography and climates tend to carry with them their own unique set of perils. Texas landlord insurance, for example, is very different in the Panhandle than it is on the Gulf Coast. Texas landlord insurance policies also vary greatly according to the type of building insured. Houses are covered differently than duplexes, for example. The time it takes to research community risk ratings and variations in Texas insurance laws specific to different areas is often time the property owner simply does not have. It is much more expeditious and cost effective for an out of state property owner to work with a statewide agency like Texas Auto Home Insurance who is familiar with all Texas regions and communities and is able to find ways to discount the cost of Texas landlord insurance.

Texas Auto Home Insurance will identify some of the key coverage needs and exposures that landlords face in Texas. These coverage needs will depend greatly on the location of the property within the state itself, the size of the building and its location within the general community, and its status as either a commercial property or residential property. Each one of these factors carries its own set of risks and coverage indemnities. In spite of the complexities of insurance laws, there are opportunities to save money on landlord insurance on any type of property, anywhere in Texas.

Many of our laws may be somewhat different from the home state of the insured and require some explanation before a landlord insurance policy is written. Texas Auto Home Insurance agents will take the time to share this information with serious inquirers. We feel it is important to break down litigious language to the daily language of the lay person in order for them to better understand their options.

One very important point of Texas landlord insurance policies are “vacancy” clauses and fire rates. Property owners always obtain a number of quotes from providers and may often look only for the best rates without studying the details of the fine print, as they say. Vacant policies should be insured with only the necessary coverage that will allow the owner time to prep the building for tenants and occupy the lease. If a vacancy clause is not properly worded, or absent altogether, a landlord may end up paying higher than necessary insurance cost on a building that isn't even making him or her money yet!

Texas Auto Home Insurance will assist landlords in determining if their investment property is near enough to fire protection to qualify for a discounted fire rate, or if the property is justifies a higher, standard rate. Many out of state investors forget that rural properties obtainable for cheap prices many also carry higher premiums on fire protection because of their remote location. It is a good idea for any speculators to call our office first and explore the hypothetical on Texas landlord insurance first before making a down payment on property that may turn out to be more expensive in the long run than anticipated.

Liability exposure also differs from state to state. If a landlord does not have proper liability coverage and is sued for something that occurs in Texas, out of state assets may suddenly become exposed and vulnerable to Texas law. This is another very important point to consider, and one that justifies taking the extra precaution of thoroughly looking at all of your liability coverage options with a qualified, trained insurance agent at Texas Auto Home.