Landlord insurance · Rumford, Rhode Island
Landlord insurance for Rhode Island rental property
Coverage for rental buildings, lost rent and the owner's liability, including the Providence two- and three-family where the owner lives in one unit. Gilbane writes it on the form that matches how the building is actually used.
What it covers
What landlord insurance covers
A landlord or dwelling fire policy (DP-3) is written for a building you rent to others.
- The building. The structure, at replacement cost.
- Loss of rental income. Rent you lose while a covered loss is being repaired.
- Premises liability. Your liability as owner for injuries on the property.
- Optional endorsements. Vandalism and theft by tenant.
General information, not a policy. What a policy pays depends on its form, endorsements and limits, and on carrier underwriting.
Common gaps
What it does not cover
The exclusions and gaps that most often catch people out.
- Tenant belongings. Tenants need their own renters policy.
- Wear and tear. Normal tenant wear and tear is not an insured event.
- Flood and earthquake. Not covered without a separate policy or endorsement.
- Vacancy. Many dwelling policies restrict coverage when a building sits vacant past a period set in the policy. Tell us before a unit or building goes empty.
Rhode Island
Rhode Island specifics
The Providence three-decker is the classic case: you live on the first floor and rent the other two. That is not purely a homeowners risk and not purely a landlord risk. Written on the wrong form, a claim can be denied.
Owner-occupied two- and three-family homes are common in Providence and are often written on the wrong form. Bring us the deed and the occupancy and we will write it to match.
Flood is excluded from standard dwelling forms. Many Rhode Island flood claims come from rain and drainage, not only storm surge.
Before you call
What to bring to Gilbane
This lets a licensed agent quote like for like instead of guessing.
- The deed, and how each unit is occupied (owner, tenant or vacant).
- The number of units and the monthly rent for each.
- Year built, roof age, and the years the heating, electrical and plumbing were updated.
- Your current declarations page.
- Any claims on the property in recent years.
Photograph the documents and text them, email them to info@gilbaneinsurance.com, send them on WhatsApp, or bring them to 428 Pawtucket Ave, Monday to Friday, 9:00 to 5:00.
Answers
Questions about landlord insurance
It depends on the number of units and how they are occupied, and it is the case most often written on the wrong form. Bring the deed and the occupancy and a licensed agent will match the form to the building.
No. Tenant belongings are covered only by the tenant's own renters policy.
A DP-3 policy can include loss of rental income while a covered loss is repaired. Check the limit on your declarations page.
An umbrella can extend liability above the limits on your rental properties as well as your home and auto. See our umbrella page for how the limits fit together.
Next step
Talk to a licensed agent about landlord insurance
Start a quote online, or call the office on Pawtucket Ave, Monday to Friday, 9:00 to 5:00. Se habla español. There is no fee for a quote.
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