Single-family home landlord insurance

Single-family homes are the most popular type of dwelling for real estate investors – but once it becomes a rental property, a standard homeowners policy no longer applies. Landlord insurance is needed to protect rentals against property damage, liability claims from tenants or guests, loss of rental income after a covered event, and the unique risks that come with renting to others.

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What is a single-family home?

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In real estate, a single-family home is a standalone dwelling designed to house one household, sitting on its own lot with no shared walls with neighboring properties. The single-family home definition is straightforward; you own both the structure and the land it sits on, giving you complete control and full responsibility for maintenance. Unlike condos or townhouses where ownership gets divided between units and shared spaces, a single-family home means everything from the roof to the foundation to the yard is yours alone, making it the most common choice for real estate investors entering the rental market.

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What a single-family home means for landlords is maximum flexibility over your investment. You can make renovations without HOA approval, choose your own contractors, and landscape however you'd like. Single-family rentals typically attract long-term tenants like families looking for yard space and privacy, which translates to lower turnover and more stable rental income. The trade-off is you're responsible for every aspect of maintenance, from the roof to the lawn, but many investors prefer this because there are no surprise HOA fee increases eating into profits.

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How do I insure a single-family rental property?

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Insuring a single-family rental requires landlord insurance, not a standard homeowners policy. Once you start collecting rent, homeowners insurance no longer applies, leaving you exposed to significant financial risk. Single-family rental insurance is designed for investment properties and covers the unique challenges landlords face, from tenant-caused damages to liability claims when someone gets hurt on your property. Getting coverage with Steadily is straightforward; most landlords can get a quote in minutes and have coverage in place before their first tenant moves in.

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What single-family home landlord insurance covers goes far beyond basic property protection. Your policy protects all parts of the dwelling itself against covered perils like fire, wind, hail, and vandalism, plus any detached structures like garages or sheds on your lot. Liability coverage is crucial—it protects you financially if a tenant or their guest is injured on your property and decides to sue, which can happen even when you've done everything right as a landlord. You'll also get loss of rent coverage, which replaces your rental income if the property becomes uninhabitable due to a covered event and your tenant has to move out temporarily.

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Unlike condo insurance where the HOA covers exterior maintenance, single-family rental insurance means you're protecting the entire property from foundation to roof, which is why coverage limits are typically higher and premiums reflect that comprehensive protection.

Common single-family home coverages

We cover a wide range of risks, or you can choose a limited set of coverages for a lower premium

Riot & civil commotion

Protect your rental property from damage caused by riots or civil commotion. Steadily’s landlord insurance includes coverage for these rare but costly events.

Vandalism & burglary

Landlord insurance with vandalism and theft coverage protects your investment when criminal activity damages your property.

Loss of rent

Loss of rent coverage replaces your rental income during restoration, protecting your cash flow when tenants can't occupy the property.

Storm and hail

Storm and hail damage is one of the most common and costly issues landlords face. Proper insurance protection ensures your investment remains secure when severe weather events occur.

Water

Water damage is one of the most common and costly issues landlords face. Proper insurance protection ensures your investment remains secure when unexpected water events occur.

Legal liability

Proper legal liability insurance protection ensures your investment remains secure when unexpected claims and lawsuits occur.

Fire

Fire damage is one of the most costly and devastating events a property owner can face. Proper landlord insurance ensures you're protected when the unexpected happens.

FAQs about single-family home insurance for landlords

Why are single-family homes the most popular rental property type?

Single-family homes are the most popular type of rental property for real estate investors, accounting for roughly 35% of all rental housing in America – over 16 million single-family rentals nationwide. Real estate investors often choose single-family rentals over multifamily properties because they typically appreciate faster, attract longer-term tenants, and offer easier exit strategies since you can sell to both investors and owner-occupants. The advantages of single-family vs multifamily rental investing include lower entry costs, simpler property management with one tenant, and stronger demand from families seeking yards and privacy.

Can I turn the home I live in into a rental?

Yes, you can turn your primary residence into a rental property, but you'll need to make some important changes first (and, of course, move out). The most critical step is switching your homeowners insurance to a landlord insurance policy since your current coverage will no longer apply once you start renting. You'll also want to check with your mortgage lender to ensure rentals are allowed under your loan terms and notify your HOA if applicable to confirm rentals are permitted in your community.

Is a townhouse a single-family home?

A townhouse is technically a single-family home in terms of structure – it's a multi-story dwelling designed for one household – but it differs from a detached single-family home because it shares one or more walls with neighboring units. From an insurance perspective, townhouses are treated similar to single-family homes since you own and maintain the dwelling – but it may be a part of a townhomes association that could cover certain aspects, including any communal property and sometimes the roof.

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