Landlord Insurance Rates By State (2025) – Compare Costs

Choosing the right insurance company is crucial for getting the best coverage at a reasonable price. Here are some of the top companies offering landlord insurance:

Steadily is our primary recommendation for landlord insurance. They specialize in rental property insurance and offer a range of coverage options to suit different needs. Their customer service is top-notch, and they provide competitive rates.

Offers affordable landlord insurance with budget-friendly DP1/DP2 policies ideal for low-risk properties or landlords prioritizing cost efficiency, featuring a streamlined online purchase process and backed by Berkshire Hathaway’s financial stability. However, its coverage is limited to basic named perils, excluding comprehensive DP3 policies or specialized add-ons like short-term rental protection. 

stands out for its robust liability coverage (up to $1M+) and customizable DP3 policies with optional riders, supported by personalized agent service, though premiums tend to be higher and availability is not nationwide. It’s best for landlords seeking tailored coverage and strong liability safeguards, despite the steeper cost.

State Farm is a well-known name in the insurance industry, and they offer reliable landlord insurance policies. They have a strong financial rating and a wide network of agents, making it easy to get personalized service.

Liberty Mutual offers comprehensive landlord insurance policies with various add-ons to customize your coverage. They are known for their excellent customer service and quick claims processing.

Allstate provides robust landlord insurance policies with a range of coverage options. They also offer discounts for bundling policies, which can help you save money if you have multiple insurance needs.

Progressive is another great option for landlord insurance. They offer flexible coverage options and competitive rates. Their online tools make it easy to get a quote and manage your policy.

Offers competitive rates, especially for basic policies, and has a strong reputation for customer satisfaction and financial stability.

Provides robust policies with easy digital property management tools, including online quoting and mobile app access for policy management and claims.

A Chicago-based company that specializes in insurance for landlords, offers a fully online application process, and claims to offer low rates

There are different types of landlord insurance coverage, each offering varying levels of protection. Here are the three main types:

DP1 is the most basic form of landlord insurance. It typically covers named perils such as fire, lightning, and vandalism. However, it may not cover more extensive damages or loss of rental income.

DP2 offers broader coverage than DP1, including additional perils like windstorms, hail, and theft. It also often includes coverage for loss of rental income if the property becomes uninhabitable due to a covered peril.

DP3 is the most comprehensive form of landlord insurance. It provides all-risk coverage, meaning it covers all perils except those specifically excluded in the policy. DP3 also includes coverage for loss of rental income and liability protection.

The best insurance for landlords depends on property type and risk factors:

• Discounts: Bundling (State Farm), safety features (Steadily), or multi-property (Farmers).

As a landlord, you will most likely need to insure the property structure against damage from fire, storms, or vandalism. Liability protection, loss of rental income insurance, tenant damage coverage and additional coverage for natural disasters like floods and earthquakes may be necessary.

Protects the physical structure of the rental property against damage from fire, storms, vandalism, or other covered perils. Essential for safeguarding your investment.

Covers legal and medical expenses if a tenant or visitor is injured on your property or if you’re sued for negligence. Helps protect against costly lawsuits.

Compensates for lost rental income if your property becomes uninhabitable due to a covered event, like fire or major storm damage. Ensures financial stability during repairs.

Tenant damage coverage is insurance that protects landlords from financial losses caused by tenant-caused property damage. It covers accidental or intentional damage beyond normal wear and tear. Policies vary, but coverage may include repairs for broken appliances, holes in walls, or vandalism. Some insurers offer optional add-ons for extensive tenant-related damages.

Covers water damage from flooding, which standard landlord insurance policies typically do not include. Recommended for properties in flood-prone areas.

Protects your rental property against earthquake-related damages, including structural damage and necessary repairs. Crucial for landlords in high-risk zones.

Whether landlord insurance is required by law can vary depending on the location and specific circumstances. Let’s explore this in more detail:

In most cases, landlord insurance is not legally required in the US. However, if you have a mortgage on your rental property, your lender may require you to have insurance. Additionally, some states and municipalities may have specific requirements for rental properties.

Landlords want you to have rental property insurance to protect their investment. Insurance can cover damages to the property, loss of rental income, and liability claims. It provides financial security and peace of mind for both landlords and tenants.

Now that you have a better understanding of landlord insurance rates and coverage options, it’s time to take action. Protecting your rental property is crucial, and finding the right insurance policy can provide peace of mind and financial security. Start by clicking on any button above to view quotes and get your landlord insurance today!

Why is Landlord Insurance more expensive?

Landlord insurance is more expensive because it covers additional risks associated with rental properties, such as tenant-related damages and loss of rental income. These added risks increase the likelihood of claims, leading to higher premiums.

Who gives the best Landlord Insurance?

Several companies offer excellent landlord insurance, including Steadily, State Farm, Liberty Mutual, Allstate, and Progressive. Each company has its strengths, so it’s important to compare quotes and coverage options to find the best fit for your needs.

How much is Landlord Insurance in the US?

The cost of landlord insurance in the US can vary widely depending on factors such as location, property value, and coverage type. On average, premiums range from $50 to $200 per month. It’s important to get quotes from multiple insurers to find the best rate for your specific situation.