If you own a rental property in Franklin County or home that happens to be vacant, a traditional homeowners insurance policy will not work.
You need what’s called a “Landlord’s Policy”.
This is because traditional homeowners insurance excludes coverage for properties that are not owner-occupied.
In other words, if you don’t live in the house, it’s only covered by a landlord’s policy.
Holley Insurance represents several carriers who can insure your rental property, or specialty use property.
Franklin County, VA Landlord’s Insurance
There are multiple scenarios where landlord’s insurance is necessary:
Rental Properties — Specialty Dwelling insurance is the only type of policy that will work for a rental property.
There are certain coverages that you need as the owner of a non-owner occupied property that are only provided by a landlord’s policy like for example Landlord Furnishings, and Tenant Liability.
Vacant Homes — vacant homes can present all kind of problems which is why they can be extremely difficult to insure. Most insurance companies want nothing to do with a property that is vacant. We can help you though.
Seasonal & Vacation Homes — in many cases, in order to insure a secondary, seasonal, or vacation property, most companies require that you insure your primary residence with them as well, which isn’t always possible.
Older & Lower Value Homes — if your home is extremely old and/or the market value is considerably lower than the cost to rebuild it, many insurance companies may hesitate to cover it. Older or lower-valued properties present a number of problems, but we have access to specialty policies specifically for these types of homes.
Credit Problems — some homeowners might not have strong enough credit to qualify for a “standard” homeowners policy. When this is the case, landlord’s insurance is the alternative.
Homes Under Construction — in some situations your renovation, addition, or reconstruction project may require a specialty policy.
If you live in Franklin County, VA, or any other part of Virginia and have a property that fits these parameters, give us a call and we can quote your property to see who has the best product for you.