Landlord Insurance Policy Question

[Tim Coppola]

Hello all,

I have a question about landlord insurance policies. My insurance company just told me that when my landlord policy renews it will not include water backup coverage because I had a claim earlier in the year and they will not be able to put that on a policy for me until 2026. This seems rather weird that I can’t be covered for something that is completely out of my control if it happens again. If I get quotes from other insurance companies will I be told the same thing?

Thanks in advance for your responses,

Tim

[Bill B.]

I haven’t had the experience (I’ve had 1 backup I covered out of pocket, one failure I also covered and two toilet supply line floods (make sure you’re stainless supply lines are braided and don’t look like snake scales or knights armor.)

BUT, I have found more and more insurance companies trying to charge more and more for each thing they are covering. The last insurance company I left was because I caught on page 3 of a 6 page renewal that going forward only the first $10,000 of water damage would be covered. Since that was the only kind of claim I had ever made I was sensitive to this. (Both claims exceeded $30k).