Protect Your Investment Property
Renting out a house, condo, or apartment? Regular homeowners insurance won’t cut it – you need landlord insurance. At Pay Low Insurance, we help property owners throughout California protect their rental properties and their income.
Whether you’ve got one rental or a whole portfolio, we’ll find you coverage that protects your investment without breaking the bank. We work with over 25 carriers to get you the best rates.
Why Landlords Need Different Insurance
Homeowners Insurance Doesn’t Cover Rentals
If you’re renting out your property, your regular homeowners policy either won’t cover it or won’t cover everything. Using the wrong insurance can leave you with denied claims when you need coverage most.
Protect Your Investment
Your rental property is a business asset. You need coverage designed for the risks landlords actually face – tenant damage, liability claims, lost rent, and more.
Protect Your Income
If your rental becomes unlivable and you can’t collect rent, landlord insurance can cover that lost income while repairs are being made.
Tenant Issues
Tenants can cause all kinds of problems – property damage, liability issues, not paying rent. The right insurance protects you from these headaches.
What Does Landlord Insurance Cover?
Property Damage
Covers the building itself from fire, vandalism, weather damage, and other perils. Just like homeowners insurance, but designed for rental properties.
Includes the structure, attached fixtures, built-in appliances – everything that’s part of the property.
Loss of Rental Income
This is huge for landlords. If your property becomes uninhabitable due to a covered loss (fire, storm damage, whatever), this replaces your rental income while repairs are being made.
Usually covers 6-12 months of lost rent. Some policies offer more.
Liability Protection
If a tenant or guest gets injured on your property and sues you, this covers legal fees and damages.
Tenant slips on stairs? Kid gets hurt in the yard? Guest claims negligence? Liability coverage protects you.
Usually $300,000-1,000,000 in coverage. You can get more if needed.
Medical Payments
Covers medical bills if someone gets hurt on your property, without anyone needing to sue. Usually $1,000-5,000.
Property in Common Areas
Covers items you provide in common areas – laundry machines, furniture in a shared lobby, equipment in the yard.
Vandalism and Malicious Mischief
If someone damages your property intentionally, you’re covered. This includes tenant damage beyond normal wear and tear.
Building Ordinance Coverage
If your property is damaged and needs to be rebuilt to meet current building codes (which are usually stricter than when it was originally built), this covers the extra cost.
Really important for older properties.
What’s Usually NOT Covered
Tenant’s Personal Property
Your insurance covers the building, not their stuff. Tenants need their own renters insurance for that.
Intentional Damage by You
Obviously. Insurance covers accidents and unexpected events, not you destroying your own property.
Normal Wear and Tear
Old carpet, faded paint, worn appliances – that’s just maintenance, not insurance.
Certain Natural Disasters
Floods and earthquakes need separate policies in California.
Bed Bugs and Pests
Usually not covered. That’s a maintenance issue.
Mold (Sometimes)
Depends on the cause. Sudden water damage that causes mold might be covered. Mold from deferred maintenance or long-term leaks usually isn’t.
Types of Rental Properties We Insure
Single-Family Homes
The most common rental property. Standard landlord policy works great.
Multi-Family Properties
Duplexes, triplexes, fourplexes – we insure them all.
Condos You’re Renting Out
Different from owner-occupied condo insurance. We’ll make sure you have the right coverage.
Apartment Buildings
5+ units need a commercial policy. We handle those too.
Vacation Rentals
Short-term rentals like Airbnb or VRBO need special coverage. Standard landlord insurance won’t cut it. We’ve got policies for that.
Section 8 Properties
We work with landlords who rent to Section 8 tenants. No problem.
Student Housing
Renting to college students? We can cover that.
Dwelling Fire vs Landlord Policy
Dwelling Fire Policy (DP3)
Basic coverage for the property structure. Cheaper but limited coverage. Good for properties with major issues or if you want bare minimum coverage.
Landlord Policy
More comprehensive. Includes liability, loss of rent, better coverage overall. This is what most landlords should get.
We’ll help you decide which makes sense for your situation.
How Much Coverage Do You Need?
For the Building
Enough to rebuild it from scratch if it burns down. This is replacement cost, not what you paid for it or what it’s worth on the market.
For Liability
Most landlords get $500,000-1,000,000. Think about your assets and how much you could lose in a lawsuit.
For Lost Rent
12 months of rent is standard. If your property rents for $2000/month, get at least $24,000 in loss of income coverage.
We’ll help you calculate the right amounts based on your actual property.
Common Questions
How much does landlord insurance cost?
Usually 15-25% more than regular homeowners insurance. If homeowners insurance on that property would be $1200/year, landlord insurance might be $1400-1500/year. Still pretty affordable for what you’re protecting.
Depends on property value, location, how many units, tenant type, etc.
Can I use regular homeowners insurance if I’m renting out a room?
Maybe, but probably not. If you’re living there too and just renting out a room, some homeowners policies allow it. But if you’re renting out the whole property, you need landlord insurance. Call us and we’ll figure out what you need.
What if the property is vacant between tenants?
Most policies cover short vacancies (30-60 days). Longer than that and you might need vacant property insurance, which is different. Let us know if your property will be empty for a while.
Do I need landlord insurance if the tenant has renters insurance?
Yes! Their renters insurance covers THEIR stuff and THEIR liability. It doesn’t cover your building or your liability as the property owner.
What about natural disasters?
Standard policies cover most weather events – wind, hail, fire, etc. But floods and earthquakes need separate policies in California. We strongly recommend both.
Can I insure multiple properties on one policy?
Sometimes, but usually each property needs its own policy. We can bundle them together for discounts though.
Short-Term Rental Coverage (Airbnb, VRBO)
Standard Landlord Insurance Won’t Cover This
If you’re doing short-term rentals, you need special coverage. Different risks, different insurance.
What’s Different?
- Higher liability risk (more people coming and going)
- More wear and tear
- Different income structure
- Guest injuries and property damage
We’ve Got You Covered
We work with carriers who specialize in short-term rental coverage. Tell us about your situation and we’ll get you the right policy.
Protecting Yourself as a Landlord
Screen Your Tenants
Good tenants mean fewer claims and lower risk. Do background checks, credit checks, verify income and references.
Use a Written Lease
Always have a solid lease agreement. Protects both you and the tenant.
Require Renters Insurance
Make it part of the lease. Protects their stuff and gives them liability coverage, which protects you too.
Regular Inspections
Check the property regularly (with proper notice). Catch problems early before they become expensive.
Keep Up with Maintenance
Don’t defer maintenance. Small problems become big expensive problems. Plus insurance won’t cover damage from neglect.
Document Everything
Photos, emails, receipts – keep records of everything. You’ll need them if you ever file a claim.
Ways to Save Money
Higher Deductible
Choose $2500 or $5000 instead of $1000. Your premium goes down.
Bundle Properties
Multiple rentals? Insure them with the same carrier for discounts.
Security Features
Deadbolts, alarm systems, fire extinguishers, smoke detectors – all help lower your rate.
Good Tenant Screening
Some carriers give discounts if you have strict tenant screening processes.
Claims-Free Discount
Stay claim-free and you might get discounts over time.
Pay Annually
Pay the whole year upfront instead of monthly.
What to Do If You Have a Claim
Document Everything
Photos, videos, written descriptions – document all damage immediately.
Call Us Right Away
We’ll help you file the claim and deal with the insurance company.
Prevent Further Damage
Board up broken windows, tarp damaged roofs, turn off water if there’s a leak. You’re required to prevent additional damage.
Keep Receipts
Save receipts for any emergency repairs or expenses related to the claim.
Don’t Make Permanent Repairs Yet
Wait for the adjuster to see the damage before fixing things permanently.
Communicate with Your Tenant
Let them know what’s happening, especially if they need to move out temporarily.
Switching from Homeowners to Landlord Insurance
Moving Out and Renting Your House?
You need to switch your insurance before the tenant moves in. Call us at least 2 weeks before to make the change.
What We Need
- Your current policy info
- Property address
- When the tenant is moving in
- Rental amount
- Any changes you’ve made to the property
We’ll get you switched over with no gap in coverage.
Get Your Free Landlord Insurance Quote
Protect your rental property and your investment. Let’s get you covered.
Call: 619-736-1313
Email: info@paylowinsurance.com
Visit: 415 Fletcher Pkwy, El Cajon, CA 92020
Hours:
Monday – Friday: 9AM – 6PM
Saturday: 10AM – 2PM
Sunday: Closed
Serving Landlords Throughout California
We help property owners across California – from single-family rentals to multi-unit buildings, from long-term tenants to Airbnb properties. Whether you’re in San Diego, LA, the Bay Area, or anywhere else in the state, we’ll get you the right coverage at the right price.
Stop by our office or give us a call. We’ll review your property, explain your options, and find you coverage that actually protects your investment.
Good insurance is the best tenant you’ll ever have.