Rent loss insurance coverage

[Eli M.]

Dear BP family,

I was wondering, would anyone know of an insurance company which offers coverage for lost rents due to tenant's non-payment?

Thank you so much for your help

[Jason Bott]

Originally posted by @Eli M.:

Dear BP family,

I was wondering, would anyone know of an insurance company which offers coverage for lost rents due to tenant's non-payment?

Thank you so much for your help

I just want to make sure eveyone understands what they have and do not have on there policies.  There are 2 different policies that are being discussed here and want to make sure investors understand the difference.

@Eli M. refers to a policy and coverage that is not commonly offered by insurance companies.  It has to do with a tenant just not paying their rent.   This will not be covered under "Loss of Rents" or "Business Income" on a standard Landlord policy.

You would need to buy a second policy to cover this.  There are only 1 -2 providers out there.

The coverage "Loss of Rents" or "Business Income" that is on 99% of all landlord policies replaces the lost rents if the Building is damaged by a covered occurrence.  Covered occurence can be Fire, Wind, Hail, Explosion, etc.

Ex- you have a fire and it takes 6 months to repair the Building, Loss of Rents can replace the 6 months of rental income while the property was vacant and being rehabbed.