Rental Property Insurance

[Jason Klamert]

I haven't put much thought into insurance policies until I read Brandon Turner's, "The Book on Rental Property Investing". It brought to light a scenario that grabbed my attention. The bottom line is that a tenant's dog bit someone and not all insurance policies cover incidents from animals of certain breeds. This got me thinking and I wanted to start a discussion about rental property insurance. The following are some questions that came to mind:

• How much coverage is too much?
• Is it reasonable to cover only the replacement cost of the asset?
• Are there companies that specialize in rental property insurance and if so do you recommend them?
• In the scenario outlined above, does not having a fenced in yard constitute negligence from the landlord? 

I am eager to hear your thoughts on the topic and feel free to add your own questions/information.