Best Landlord Insurance

State Farm landlord insurance is considered the best overall choice for landlords, especially for full-time landlords without any other source of income, who are looking to protect their investment. State Farm has been around for nearly 100 years and is known for delivering exceptional coverage for homeowners. The company was founded in 1922, and since then, it has helped thousands of people to get the right insurance for their needs.

State Farm enjoys a stellar A++ rating from AM Best and an AA rating from S&P Global. According to J.D. Power’s 2020 Study of US Homeowners Insurance, the company comes in 7th regarding customer satisfaction. Clients also get coverage for all other structures attached to the property, such as storage buildings, garages, fences, etc.

Allstate has been around since 1931, offering a variety of services, including the famous Allstate landlord insurance coverage. Allstate enjoys positive ratings because of its high-quality service. The insurance provider has a high A+ rating by AM Best and an AA- rating by S&P Global. Some of the standout features that Allstate has to offer are flood insurance and umbrella coverage, applicable specifically to landlords. And that’s not all; landlords also get to enjoy a 25% discount for multiple policies from Allstate to boost their protection.

Liberty Mutual is considered the sixth-largest property and casualty insurer in the world, with thousands of clients. It’s been around for over 100 years. Liberty Mutual Landlord insurance offers plenty of benefits to homeowners, which makes it the go-to choice for reliable and affordable coverage. The insurance provider enjoys a positive rating because of its exceptional customer service.

Both Standard & Poor and AM Best give Liberty Mutual an A rating (excellent). You can expect the usual suspects when it comes to landlord property insurance, which includes coverage for physical structures and liability, along with plenty of add-on options such as personal property, fair rental value, and inflation protection. Landlords also get to take advantage of umbrella insurance for added benefits.

American Family is one of the go-to options for landlord home insurance mainly because it offers some of the best optional medical expenses, making them viable for commercial coverage. The insurance provider has been serving customers since the 1920s and is still held in high regard because of its excellent customer service and fast claims process.

American Family also boasts about a high A rating from Standard and Poor and AM Best, which is a testament to its dedication to providing reliable and affordable landlord insurance. You can also expect flood coverage, coverage for outbuildings, and a comprehensive commercial umbrella policy.

Steadily insurance is a newcomer on the market but it managed to grab our attention fast. It was established back in 2020 but it has amazing reviews on the Trustpilot. It is available in all states. The company is dual-headquartered in Austin, Texas, and Overland Park, KS. 

The entire process is digital – you can insure your rental property in a few simple steps. Describe your property, finalize the coverage details in a matter of minutes and sign your insurance policy electronically. Steadily landlord insurance offers Property Insurance Protection and Liability Insurance Protection. Both types of policies protect landlords from financial loss. 

Steadily also offers coverage for AirBnB vacation rentals as well as vacant and properties that are under renovation. You can also get insured if you have mortgaged property

The only potential downside might be it is a relatively young company and they are still gaining traction.

MetLife was established in 1868 and since then has been providing reliable insurance coverage to its clients. It is one of the top 15 home insurers in the US, with a considerable market share of around 1.12%. The insurance provider has a positive A rating from AM Best and a decent rating from Standard and Poor.

MetLife offers a comprehensive condo landlord insurance that allows its customers to perform both claim processing and bill payments online. The clients also get to take advantage of up to three levels of home insurance packages, enabling them to receive the perfect coverage for their property.

Foremost offers a comprehensive landlord house insurance with plenty of benefits to homeowners of single or multiple-unit rental properties. The insurance provider has been serving its customers since 1952, so you can rest assured that you will get robust insurance coverage.

The company also enjoys an A rating from AM Best and has excellent financial strength. Since it is a part of the Farmers Insurance Group, it is the fifth-largest small business insurance carrier

If you’re a landlord owning more than 10+ units, American Modern is the best landlord insurance company for you. The insurance provider has been around since 1965 and consistently ranks high in terms of customer service and insurance coverage.

American Modern enjoys a positive A+ rating by AM Best for its strong financial standing. The company has rave reviews for its excellent customer service and prompt claims processing. What’s more, the customers are entitled to free claims for up to five years, along with auto/home bundling options.

USAA is a members-only home insurance policy for military members and families. It offers several types of property insurance, making it easier for you to find the perfect coverage for your specific needs. The insurance provider enjoys a high financial strength rating of A++ by AM Best, which is a testament to its superior level of quality.

Farmers Insurance has been providing landlord insurance and numerous other coverage options since 1928. It’s an excellent choice for homeowners with multiple rental units, such as triplexes and fourplexes. Customers get standard coverage for property damage. Also, the company enjoys a positive A rating from AM Best because of its financial strength.

If you’re looking for traditional landlord property insurance, Travelers is one of the first names that comes to mind. The insurance provider has been operating for the past 160 years and has enjoyed stellar ratings from AM Best (A++) and other rating agencies.

Travelers landlord insurance offers full coverage for single-family homes and multi-family units. Customers are highly satisfied with the company’s claims processing and customer service.

If you are looking to get the best value for your money, then GEICO landlord insurance is your best option. The insurance provider was founded in 1936 and provided a high level of insurance coverage to its customers. The company received a positive A+ rating from BBB and an excellent A++ rating from AM Best. GEICO offers comprehensive landlord home insurance to its clients.

Lemonade landlord house insurance is one of the best options out there for humanitarians. Customers get to enjoy incredibly low rates and a transparent business model, which encourages reliability. In fact, the peer-to-peer model has completely disrupted the traditional insurance market. 

The only downside of Lemonade is that it’s still not available in all US states. Some of the covered states include New York, California, Illinois, Texas, Pennsylvania, New Jersey, and Washington. Visit the company’s official website for the full list of states and any updates regarding the newly covered areas.

One of the advantages of Hippo is that it offers a wide variety of add-ons along with a comprehensive landlord home insurance policy. Customers also get to take advantage of a reputable company that is relatively new. Having opened its doors only in 2015, Hippo enjoys an excellent financial standing. The insurance provider offers coverage for the dwelling, other structures, personal liability, and medical payments, along with many other options. Hippo has a positive rating of 3 out of 5 stars from BBB and an A- rating from AM Best.

Country Financial is your go-to choice for the best comprehensive coverage. The insurance provider was established by Illinois farmers. With its roots in the Midwest, the company offers basic insurance coverage, premier home insurance, and combined coverage. Add-on options include coverage for water backup, earthquake protection, identify theft expenses, and advocacy service. According to J.D. Power, Country Financial ranks the highest in the country because of its top-quality level of service and a positive A+ rating by AM Best.