If you own rental property but don’t have rental insurance in Tennessee, it’s extremely important that you get coverage immediately. Although you may take great care of your property and have a long history of happy clients, as soon as any accident happens on your property, the tenants can hold you liable, and any accidental damage that befalls your property can cost you immensely unless you have the right coverage. The list of environmental hazards is almost too long to name, but fire, flood, storms or other natural damage has immense consequences on your income as a rental property owner. Natural disaster isn’t the only risk, and any repairs that you have to undergo from accidental tenant damage needs to be covered so that you don’t risk continually losing money to small repairs.
Insuring the main property is essential, but it’s just as important when searching for rental insurance in Tennessee to get separate structures covered. Any detached garages, sheds or guesthouses are just as susceptible to damage. Perhaps most importantly, don’t forget to get umbrella or excess liability insurance if you have dangerous elements on your property like a pool. Stay insured so that you can keep your income steady, your property maintained and your tenants satisfied, comfortable and safe.