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Bundza & Rodriguez, P.A. Proven Trial Attorneys
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Are Landlords Required To Purchase Insurance For Rental Properties?


Owning a rental property can be a great investment, but it is also an expensive endeavor. With all the costs of maintaining the property, you may wonder if you also have to purchase insurance for it. After all, a rental property can become damaged by a storm, fire, or other natural disaster just like any other. Below, our Daytona Beach residential and commercial property damage lawyer explains if you need this type of coverage.

Landlord Insurance is Not Required in Florida 

In many states, the law requires landlords to purchase insurance for their rental properties. The reason for this is to mainly protect the tenants using the property. However, the laws are also in place to keep properties from being abandoned. There are already many rental properties that are unoccupied for months at a time. When a property is damaged, lawmakers do not want landlords to abandon it and allow it to fall further into disrepair.

In Florida, there is no such law that requires landlords to purchase insurance for their property. Still, it is always recommended that landlords do purchase a policy that can provide important protection. Landlord insurance is quite affordable and can save you thousands of dollars in the event that anything happens to your investment property.

How Much Does Landlord Insurance Cost? 

As with any other type of insurance, the cost of it will vary depending on several factors. Some policies are quite affordable while others will provide more coverage and therefore, are a bit more costly. Nonetheless, you should never assume that a policy provides a lot of coverage just because it is expensive. Many factors will impact the price of your landlord insurance, including:

  • The location and condition of the property
  • The size of the property
  • Whether you have filed previous claims
  • Your credit rating
  • Whether the home is occupied or vacant

The type of insurance you purchase will also have a significant impact on how much you end up paying for it. There are many different types of insurance you can purchase and a Daytona Beach residential and commercial property damage lawyer can outline which one is best for you.

For example, if your rental property is in an area prone to tropical storms and other natural disasters, you may want to purchase a policy that includes these specific perils. If the structure is older, you may also want to purchase a policy that will cover the cost of replacing it instead of the actual purchase price. A lawyer can also advise on the type of insurance you should purchase for your rental property.

Call Our Residential and Commercial Property Damage Lawyer in Daytona Beach for Legal Advice 

Purchasing landlord insurance is important, but it is not always easy to determine which type will provide the full coverage you need. At Bundza & Rodriguez, our Daytona Beach residential and commercial property damage lawyer can provide sound legal advice so you can make an informed decision. Call or text us now 386-252-5170 or contact us online to schedule a free consultation.


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