Landlord insurance in Waco, TX
When you rent out a Waco property, you need landlord insurance, not homeowners insurance. It covers the dwelling, your liability, and the rent lost after a covered event, built around the fact that you no longer live in the home.
Trusted insurance service for landlords in Waco TX
Secure your assets in Waco's active rental scene
When it comes to landlord insurance in Waco, Texas, Steadily offers a fast and affordable approach to protect your investment. Located between Dallas and Austin along Interstate 35, Waco presents a unique opportunity for property owners to capitalize on a growing rental market. Whether you're managing multiple rental properties by the Brazos River or in the city's urban core, having the right insurance policy ensures you're protected against perils like storms, wind, and fire.
Waco's community atmosphere, supported by institutions like Baylor University and major employers, attracts a diverse tenant base. As a landlord in this active area, insurance coverage is essential to guard against property damage, liability claims, and potential lost rent. Texas is known as a landlord-friendly state, making it an ideal location for property investments. Protect your rental properties with essential coverages like:
- Property damage protection
- Liability coverage
- Lost rent insurance
Who needs landlord insurance in Waco TX?
Landlord insurance is a policy for people who rent their homes to others. It is NOT homeowners insurance, and should not be used to cover your primary residence.
You may need landlord insurance if you:
.png)
Properties we look after
We make it easy to get landlord insurance for many types of properties
We also help AirBNBs, VRBOS, and other rental properties
.webp)
.webp)
.webp)
.webp)
.webp)
Renting in Waco
Renters hold about 27,100 of Waco's 53,000 occupied homes, close to 51 percent, paying a median gross rent of roughly $1,098 and about $1,137 for a two bedroom. Whatever the repair costs, the rent you stop collecting during it is a separate loss, and it is the one a homeowners policy will never pay.
Behind the citywide figure sits a smaller market that actually buys landlord policies, about 8,360 single-family rentals and 4,690 units in two-to-four-unit buildings, near 13,000 homes altogether. Supply sits near 5.3 months, a reasonably balanced market by recent standards.
What a policy gets tested by in this market is flash flooding that turns up in places which have never taken water before, and the February 2021 freeze, which produced burst-pipe claims across the state. As for the rules you operate under, Texas bars its cities from imposing rent control, but the procedural duties still bite: an itemized deposit accounting within 30 days of the tenancy ending, and a landlord who keeps a deposit in bad faith can owe three times the amount withheld plus fees.
What does landlord insurance cost in Waco?
Industry figures generally show landlord policies costing a bit more than an equivalent homeowners policy nearby, which is what you would expect given the extra liability and rental income coverage. It is a rough public-data benchmark, not an offer, and real quotes routinely land well outside it.
The local anchor is reconstruction cost. Waco homes sell around $279,078 at the median, useful only as a rough sense of scale, since rebuilding a property and buying one are different numbers. In this market the biggest single swing factor is hail exposure and the age and material of your roof, which move a Texas quote more than square footage does. A real price turns on square footage, construction, roof condition, the age of the property, claims history, deductible, chosen limits, and whatever the local hazard picture looks like. A quote on your specific property is the only way to see a real figure.
Landlord insurance coverages in Waco TX
We cover a wide range of risks, or you can choose a limited set of coverages for a lower premium
Wind and hurricane
Steadily covers wind and hurricane damage to the structure of your rental, from a stripped roof and broken windows to siding torn loose and a tree through the wall, plus the rental income you lose while it's repaired.
Riot & civil commotion
Steadily’s landlord insurance covers property damage from riots and civil commotion, including broken windows, structural fires, and looted common areas, so the repair costs don’t fall entirely on you. Documentation connecting the damage to the civil unrest is required.
Vandalism & burglary
Steadily covers malicious damage to your rental from vandalism and break-ins: broken doors and windows, defaced surfaces, damaged fixtures and appliances. A police report is typically required to file the claim.
Loss of rent
When a covered event makes the unit temporarily uninhabitable, Steadily’s loss of rent coverage replaces the income you’d lose while repairs are underway, whether the cause is a fire, a burst pipe, or storm damage.
Storm and hail
Steadily covers storm and hail damage to the structure of your property, including roof punctures, dented or torn shingles, broken windows, and damage from fallen trees and debris, up to your policy limits.
Water
For sudden water damage events such as burst pipes, plumbing failures and appliance overflow, Steadily covers the structural repairs and lost rental income if the unit can’t be occupied while the work is done. Flood damage from rising water requires a separate policy.
Legal liability
Landlord liability insurance pays medical bills, legal defense, and settlements when a tenant or visitor is injured at your rental and holds you responsible. It's built into every Steadily landlord policy in all 50 states with $300,000 to $2 million per occurrence, typically adding $200 to $400 a year to the bundled premium.
Fire
Steadily covers structural fire damage, smoke damage, personal property you own at the unit, and lost rental income while repairs are underway. That includes fires started in the kitchen, by the wiring, by a tenant, or by a wildfire nearby.
Frequently asked questions
What does a landlord policy cover, and what does it leave out?
It pays for damage to the building, defends you if a tenant or visitor is hurt and holds you responsible, and replaces rent while a covered claim keeps the place empty. It does not touch the tenant's furniture, and it does not cover flood.
Why does the price vary so much between Waco properties?
Almost none of it is about the neighborhood. In this market hail exposure and roof age moves a quote more than anything else, followed by how the building is constructed, square footage, what has been claimed on it before, the deductible you accept and the coverage limits you choose. A property that has been updated prices very differently from one that has not.
Do I need landlord insurance in Texas, or will my homeowners policy cover it?
Texas does not require it by statute, though any mortgage will. The more pressing issue is that keeping the homeowners policy does not work: it is written for an owner-occupied home, and the moment the property is tenanted the carrier can refuse the claim. Landlord coverage replaces it and adds loss of rent and landlord liability.
Which insurer should a Waco landlord use?
Names matter less than fit. A policy written for rentals treats loss of rent and landlord liability as core coverage rather than endorsements, and that difference shows up only when you claim. Steadily covers Texas rentals and quotes without a phone call. Weigh coverage first, price second.
We're national & local
We help property investors get affordable landlord insurance in all 50 states. Our team of knowledgeable sales agents across the country are experts at get the right coverage for your needs.
Nearby cities
Get coverage in minutes
Competitive rates nationwide. Purpose-built for rental property investors.